NEW YORK, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a securities class action lawsuit on behalf of shareholders who bought shares of ADTRAN, Inc. (ADTN) from February 28, 2019 through October 9, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for ADTRAN, Inc. investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than December 16, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to obtain a recovery is not dependent upon being a lead plaintiff. If you wish to join the case go to http://zhanginvestorlaw.com/join-action-form/?slug=adtran-inc&id=2083 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email email@example.com, firstname.lastname@example.org for information on the class action.
According to the case, defendants made 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, ADTRAN’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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