On December 19, 2016, after-market hours, NeoPhotonics released the divestiture of the its low-speed transceiver business. NeoPhotonics also corrected its estimated fourth-quarter earnings of $0.03 to $0.11 per share on revenue of $105 million to $109 million and attributed the correction to late shipments from one of NeoPhotonics' new factories. Following this news, NeoPhotonics dropped as much as $2.39 per share, or 19.14%, on December 20, 2016 during intraday trading.
If you are aware of any facts relating to this investigation, or purchased NeoPhotonics shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/nptn. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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
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