NEW YORK, Oct. 3, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Applied Optoelectronics, Inc. ("Applied Optoelectronics" or the "Company") (NASDAQ: AAOI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Applied Optoelectronics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 27, 2018, a Loop Capital Markets analyst downgraded Applied Optoelectronics' stock, reporting that the Company was experiencing product quality issues with certain transceivers in which its lasers fail after thousands of hours of operation. The analyst also lowered gross margin and revenue expectations, citing product quality issues that suggested that Applied Optoelectronics would begin procuring lasers externally through 2019. On this news, Applied Optoelectronics' stock price fell $2.98 per share, or more than 9%, to close at $28.36 per share on September 27, 2017.
Then, on September 28, 2018, Applied Optoelectronics cut its revenue guidance for the third quarter of 2018, stating that it had identified an issue with its lasers that had led the Company to temporarily suspend shipments of certain transceivers. On this news, Applied Optoelectronics' stock price fell $3.70 per share, or more than 13%, to close at $24.66 per share on September 28, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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
888-476-6529 ext. 9980
SOURCE Pomerantz LLP