NEW YORK, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Applied Optoelectronics, Inc. ("Applied Optoelectronics" or the "Company") (AAOI) and certain of its officers, on behalf of shareholders who purchased Applied Optoelectronics securities August 7, 2018 and September 27, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/aaoi.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) certain of the Company's lasers were susceptible to fail prematurely; (2) certain of the Company's transceivers utilizing these lasers would be materially affected; and (3) as a result of the foregoing, Optoelectronics' public statements were materially false and misleading at all relevant times.
On September 27, 2018, an analyst with Loop Capital Markets downgraded the Company's stock, reporting that the Company was experiencing product quality issues with certain transceivers in which its lasers fail after thousands of hours of operation. The analyst also lowered gross margin and revenue expectations because the product quality issues suggested that the Company would start procuring lasers externally through 2019. Following this news, the Company's stock price fell $2.98 per share, or more than 9%, to close at $28.36 per share on September 27, 2018, on unusually heavy trading volume.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/aaoi 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 in Applied Optoelectronics you have until November 30, 2018 to 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com