NEW YORK, NY / ACCSSWIRE / December 8, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
ADTRAN, Inc. (ADTN)
Class Period: February 28, 2019 to October 9, 2019
Lead Plaintiff Deadline: December 16, 2019
ADTRAN, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in the Company's internal control over financial reporting; (2) as a result, certain E&O reserves had been improperly reported; (3) as a result, the Company's financial results for certain periods were misstated; (4) there would be a pause in shipments to the Company's Latin American customer; and (5) 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.
Learn about your recoverable losses in ADTN: http://www.kleinstocklaw.com/pslra-1/adtran-inc-loss-submission-form?id=4769&from=1
iRobot Corporation (IRBT)
Class Period: November 21, 2016 to October 22, 2019
Lead Plaintiff Deadline: December 23, 2019
The filed complaint alleges that defendants misrepresented the reason for iRobot's acquisitions of Tokyo-based Sales on Demand Corporation and privately-held Robopolis SAS, which was to control the Company's largest distributors so that defendants could inflate sales and revenue figures by stuffing the channel. Defendants further misled investors by repeatedly telling them throughout the Class Period that the Company was seeing continued double-digit revenue growth, and by attributing the growth to increased demand for the Roomba vacuums, when in reality defendants were engaging in channel-stuffing to artificially boost sales. Defendants also misstated that the Company's channel inventory levels had not changed and would not change dramatically from quarter to quarter or year over year, when in fact iRobot was deliberately stuffing the channel in order to claim false revenue growth.
Learn about your recoverable losses in IRBT: http://www.kleinstocklaw.com/pslra-1/irobot-corporation-loss-submission-form?id=4769&from=1
Azz, Inc. (AZZ)
Class Period: July 3, 2018 to October 8, 2019
Lead Plaintiff Deadline: January 3, 2020
The AZZ lawsuit alleges Azz, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) the Company's internal controls over financial reporting were not effective; (2) the Company improperly implemented ASC 606 which resulted in improper revenue reconciliations; and (3) 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.
Learn about your recoverable losses in AZZ: http://www.kleinstocklaw.com/pslra-1/azz-inc-loss-submission-form?id=4769&from=1
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: The Klein Law Firm
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