NEW ORLEANS, Nov. 16, 2018 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 7, 2019 to file lead plaintiff applications in a securities class action lawsuit against Ribbon Communications, Inc. (NasdaqGS: RBBN) f/k/a Sonus Networks, Inc., if they purchased the Company's securities between January 8, 2015 through March 24, 2015, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Massachusetts.
What You May Do
If you purchased securities of Ribbon and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-rbbn/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 7, 2019.
About the Lawsuit
Ribbon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 24, 2015, Ribbon, formerly Sonus Networks, Inc., disclosed dismal results for the first quarter of 2015, including revenue of only $47-$50 million, approximately $24-$30 million lower than expected, and a $0.29-$0.34 loss in non-GAAP earnings-per-share, lower than the $0.03 gain forecasted.
On this news, the price of Ribbon's shares plummeted $4.46 per share, from $13.16 to $8.70 per share, a loss of over 33%.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC