LOS ANGELES, Aug. 16, 2017 /PRNewswire/ -- Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Applied Optoelectronics, Inc. ("Applied Optoelectronics" or the "Company") (Nasdaq: AAOI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between July 13, 2017 and August 3, 2017, inclusive (the "Class Period"), are encouraged to contact the firm before October 4, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm's website at http://www.goldberglawpc.com/, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Applied Optoelectronics made false and/or misleading statements and/or failed to disclose: that a major customer was reducing its purchases of the Company's 40G receivers; that the loss of this customer's business would have a severe negative impact on financial performance; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On August 3, 2017, the Company revealed that it expected its revenue for the third quarter to be in the range of $107 - $115 million due to the slowdown in purchasing by one of its major customers, missing expectations by a wide margin. When this news reached the public, Applied Optoelectronics' stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE Goldberg Law PC