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On December 19, 2016, post-market, NeoPhotonics announced the divestiture of the Company's low-speed transceiver business. NeoPhotonics also forecast adjusted fourth-quarter earnings of $0.03 to $0.11 per share on revenue of $105 million to $109 million, citing delayed shipments from one of the Company's new factories.
On this news, NeoPhotonics stock has fallen as much as $2.39, or 19.14%, during intraday trading on December 20, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP