LOS ANGELES, CA / ACCESSWIRE / April 16, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Finisar Corporation ("Finisar" or the "Company") (NASDAQ: FNSR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On April 16, 2018, Reuters reported that Finisar, along with other American companies, was ordered by the U.S. Department of Commerce to stop selling their products to Chinese telecommunications equipment manufacturer ZTE for a period of seven years after ZTE allegedly violated the terms of a U.S. sanctions violation case. Based on this news, shares of Finisar fell by more than 4% or $0.66 per share, closing at $15.62 per share.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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Brian Schall, Esq.
Sherin Mahdavian, Esq.
SOURCE: The Schall Law Firm