NEW YORK, March 25, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Arlo Technologies, Inc. (ARLO)
Class Period: common stock purchased pursuant and/or traceable to Arlo’s August 3, 2018 initial public offering (the “IPO” or the “Offering”).
Lead Plaintiff Deadline: March 25, 2019
For more info: www.bgandg.com/arlo
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) there was a flaw and/or quality issue with Arlo’s newly designed battery for its Ultra camera systems; (2) this flaw and/or quality issue with the Ultra battery could result in a shipping delay of Arlo’s Ultra product; (3) such a shipping delay endangered Arlo’s chances of launching the Ultra product in time for the crucial holiday season; (4) such a shipping delay would allow Arlo’s competitors to capitalize on the Ultra product’s missed launch, thereby increasing their own market share; (5) Arlo’s consumers had been experiencing battery drain issues and other battery-related issues in connection with recent firmware updates; (6) because of the foregoing, Arlo’s fourth quarter 2018 results and consumer base would be negatively impacted; and (7) as a result, Arlo’s Registration Statement was materially false and misleading at all relevant times.
The Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements and/or failed to disclose that Micron was engaged in a price-fixing conspiracy with Samsung Electronics and SK Hynix, and that such unlawful behavior could lead to severe sanctions against the Company.
The Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements and/or failed to disclose that: (1) that there was excess supply of the Company’s products; (2) that demand for the Company’s products was declining; (3) that, as a result, the pricing of the Company’s products would be materially impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com