NEW YORK, April 20, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the District of New Jersey on behalf of those who purchased shares of Sonus Networks, Inc. ("Sonus" or the "Company") (NasdaqGS:SONS), during the period between October 23, 2014 and March 23, 2015 inclusive. (the "Class Period").
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (i) Sonus would be unable to close certain orders in the first quarter of 2015; and (ii) Sonus would be experiencing longer decision cycles from its customers
On March 24, 2015, Sonus lowered revenue guidance for the first quarter of 2015 to a range of $47 million to $50 million compared to previous guidance of $74 million. Further, Sonus disclosed that the "Company no longer expects to receive certain orders this quarter that had been expected to be received at the back end of the first quarter."
Following this news, shares of Sonus declined $4.46 per share, or nearly 34%, to close at $8.70 per share on March 24, 2015.
Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of Sonus during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Sonus you have until June 5, 2015 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 Eitan Kimelman 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC