INVESTIGATION UPDATE for ARLO and VECO: Levi & Korsinsky, LLP Reminds Investors of Investigations on Behalf of Shareholders
NEW YORK, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that investigations have commenced on behalf of shareholders of the following publicly-traded companies.
Arlo Technologies, Inc. (NYSE: ARLO) Levi & Korsinsky announces it has commenced an investigation of Arlo Technologies, Inc. (“Arlo” or “the Company”) (NYSE: ARLO) concerning possible violations of federal securities laws.
On or around August 3, 2018, Arlo completed its initial public offering, selling 11,747,250 shares of common stock at $16.00 per share. On November 30, 2018, Arlo announced its “flagship wire-free security camera system” called Arlo Ultra (“Ultra”). The Company touted a “newly designed rechargeable battery” that would purportedly enable the Ultra product to provide 4K Ultra HD resolution with high dynamic range, color night vision, and advanced image processing. Then, on December 3, 2018, Arlo reported a delay in shipments, citing “a quality issue with the battery from one of its suppliers” that was discovered during the product’s final testing phase. Ultra also lowered its fourth quarter 2018 financial guidance.
To obtain additional information about the Arlo investigation, go to: https://www.zlk.com/pslra-1/arlo-technologies-inc-loss-form.
Veeco Instruments Inc. (NASDAQGS: VECO)
Levi & Korsinsky announces it has commenced an investigation of Veeco Instruments Inc. (“Veeco Instruments” or “the Company”) (NASDAQGS: VECO) concerning possible violations of federal securities laws.
The investigation concerns whether certain materials issued pursuant to the Company’s merger with Ultratech, Inc. were materially false and/or misleading. In particular, the investigation concerns whether the Registration Statement and Prospectus issued concerning the merger failed to disclose, among other issues, Veeco’s known delays in orders, pricing pressure, reduced margins, and a dispute with its largest competitor in China. Following the completion of the merger, Veeco’s stock fell from $32.00 per share on May 26, 2017, to a close of $11.90 on December 8, 2017.
To obtain additional information about the Veeco investigation go to: https://www.zlk.com/pslra-1/veeco-instruments-inc-loss-form.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Levi & Korsinsky, LLPJoseph E. Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com