NEW YORK, Aug. 7, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Applied Optoelectronics, Inc. ("Applied Optoelectronics" or the "Company") (NASDAQ: AAOI) and certain of its officers, on behalf of shareholders who purchased Applied Optoelectronics securities between July 13, 2017 through August 3, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/aaoi.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) a major customer was reducing its purchases of the Company's 40G receivers; (2) the loss of this major customer's business would have a severe negative impact on the Company's financial performance; and (3) consequently, Applied Optoelectronics' public statements were materially false and misleading at all relevant times.
On August 3, 2017 after-market hours, Applied Optoelectronics revealed that it expected its third quarter revenue to be in the $107 to $115 million range due to the loss of one if its large customers, significantly missing projections. Following this news, Applied Optoelectronics stock dropped during intraday trading on August 4, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/aaoi or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Applied Optoelectronics you have until October 4, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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