IMPORTANT SHAREHOLDER DEADLINE: Class Action Lawsuit Against A10 Networks, Inc. - ATEN
RADNOR, PA / ACCESSWIRE / May 16, 2018 / Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against A10 Networks, Inc. (ATEN) ("A10" or the "Company") on behalf of purchasers of the Company's securities between February 9, 2016 and January 30, 2018, inclusive (the "Class Period").
IMPORTANT DEADLINE NOTICE: Investors who purchased A10 securities during the Class Period may, no later than May 21, 2018, seek to be appointed as a lead plaintiff representative of the investor class. A10 investors are encouraged to visit www.kaskelalaw.com/case/a10-networks-inc/ to receive additional information about this action prior to the deadline.
On January 16, 2018, A10 issued a press release entitled "A10 Networks Announces Preliminary Fourth Quarter 2017 Results," which reported that the Company expected "total revenue in the fourth quarter 2017 to be between $55.5 million and $56.0 million, below its prior guidance of $64.0 million to $67.0 million." Following this news, shares of A10's stock fell $0.99 per share, or over 13%, to close on January 17, 2018 at $6.32.
Then, on January 30, 2018, A10 disclosed that the Company's Audit Committee had commenced an investigation into certain accounting practices, and that the investigation was "principally focused on certain revenue recognition matters from the fourth quarter of 2015 through the fourth quarter of 2017." Following this news, shares of A10's stock fell $0.86 per share, or over 12%, to close on January 31, 2018 at $6.13.
The shareholder class action complaint alleges that A10 and certain of its executive officers made a series of false and misleading statements to investors about the Company's financial statements and internal controls. The complaint further alleges that, as a result of the foregoing, investors purchased A10's securities at artificially inflated prices during the Class Period and sustained significant investment losses following the Company's disclosures.
A10 investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 - 1585 or (888) 715 - 1740, or via www.kaskelalaw.com/case/a10-networks-inc/, to discuss their legal rights and options prior to May 21, 2018.
Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 - 1585
(888) 715 - 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com
SOURCE: Kaskela Law LLC
