RADNOR, Pa., Nov. 28, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a class action lawsuit has been filed against Applied Optoelectronics, Inc. (AAOI) (“Applied Optoelectronics” or the “Company”) on behalf of purchasers of the Company’s common stock between August 7, 2018 and September 27, 2018, inclusive (the “Class Period”).
Investors who purchased the Company’s common stock during the Class Period and suffered a financial loss in excess of $100,000 are encouraged to immediately contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or firstname.lastname@example.org, for additional information about this action and their legal rights and options. Additional information may also be found at http://kaskelalaw.com/case/applied-optoelectronics/.
Beginning on September 27, 2018, shares of Applied Optoelectronics’ common stock significantly declined in value after: (i) an analyst downgraded the Company’s stock and reported product quality issues with certain of the Company’s products; and (ii) the Company decreased its quarterly revenue guidance to $55 – $58 million (from $82 - $92 million) and disclosed that it had “identified an issue with a small percentage of 25G lasers within a specific customer environment,” and that it would “temporarily suspend shipments of certain transceivers utilizing these lasers while we worked to gain a deeper understanding of the scope of the issue and implement a solution.” Following this news, shares of the Company’s common stock declined a total of $6.68 per share, or over 21%, to close on September 28, 2018 at $24.66 per share.
The investor class action complaint alleges that defendants failed to disclose to investors during the Class Period that: (i) certain of Applied Optoelectronics’ lasers were susceptible to fail prematurely; and (ii) certain of Applied Optoelectronics’ transceivers utilizing these lasers would be materially affected. The complaint further alleges that, as a result of the foregoing, investors purchased the Company’s common stock at artificially inflated prices during the Class Period and have suffered financial damages.
IMPORTANT DEADLINE: Investors who purchased Applied Optoelectronics’ common stock during the Class Period may, no later than November 30, 2018, seek to be appointed as a lead plaintiff representative of the class. Investors who purchased the Company’s common stock during the Class Period and suffered a financial loss in excess of $100,000 are encouraged to immediately contact Kaskela Law LLC for additional information about their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and other stockholder actions. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.