RIBBON COMMUNICATIONS SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Ribbon Communications, Inc. - RBBN
NEW ORLEANS, Dec. 28, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 7, 2019 to file lead plaintiff applications in a securities class action lawsuit against Ribbon Communications, Inc. (NasdaqGS: RBBN) formerly Sonus Networks, Inc., if they purchased the Company’s securities between January 8, 2015 through March 24, 2015, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Massachusetts.
Ribbon investors should visit us at https://www.claimsfiler.com/cases/view.php?s2=nasdaq-sons-4 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Ribbon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 24, 2015, Ribbon, formerly Sonus Networks, Inc., disclosed dismal results for the first quarter of 2015, including revenue of only $47-$50 million, approximately $24-$30 million lower than expected, and a $0.29-$0.34 loss in non-GAAP earnings-per-share, lower than the $0.03 gain forecasted.
On this news, the price of Ribbon’s shares plummeted $4.46 per share, from $13.16 to $8.70 per share, a loss of over 33%
The case is Miller v. Sonus Networks, Inc., et al., 18-cv-12344.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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