BENSALEM, Pa., Oct. 07, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces the continuation of its investigation on behalf of Casa Systems, Inc. (“Casa” or the “Company”) (NASDAQ: CASA) investors concerning the Company and its officers’ possible violations of federal securities laws.
In December 2017, Casa completed its initial public offering (“IPO”) in which it sold 6.9 million shares at $13 per share.
On August 14, 2018, Casa announced disappointing financial results and lowered its revenue guidance for the year by $50 million.
On this news, the Company’s stock price fell $3.52, or nearly 23%, to close at $12.08 per share on August 15, 2018, thereby injuring investors. Since the IPO, Casa’s stock has traded as low as $5.62 per share, significantly below the $13 offering price.
If you purchased Casa securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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