Haeggquist & Eck, LLP Investigates Potential Misconduct at Applied Optoelectronics, Inc. & the Filing of a Securities Class A...
22 September 2017 - 11:01PM
Business Wire
Haeggquist & Eck, LLP a shareholder rights litigation firm,
announces an investigation of potential corporate misconduct at
Applied Optoelectronics, Inc. (NASDAQ: AAOI) (“Applied
Optoelectronics” or the “Company”), a manufacturer of lasers and
transceivers used to build fiberoptic networking equipment. The
investigation centers upon potential misrepresentations issued on
behalf of the Company by its executives concerning the status of
product purchases and/or demand by the Company’s customers,
including key customer Amazon.com, Inc. (“Amazon”) (NASDAQ:
AMZN).
A securities class action (the “Class Action”) has been filed
against the Company and certain of its executives, alleging a
proposed class period covering purchasers of the Company’s
securities between July 13, 2017 through August 3, 2017, inclusive
(the proposed “Class Period”). The Class Action alleges that
throughout the Class Period, the named defendants made false and
misleading statements and failed to disclose that: (1) Amazon was
reducing its purchases of Applied Optoelectronics’ 40G receivers;
(2) the loss of Amazon’s business would have a severe negative
impact on Applied Optoelectronics’ financial performance; and (3)
as a consequence, statements concerning the Company’s financial and
operational performance during the Class Period were materially
false and misleading. The Class Action alleges that investors were
harmed when the Company’s stock price declined from $97.99 per
share on August 3, 2017 to $64.60 per share on August 4, 2017 as
negative news issued concerning decreased demand for the Company’s
products.
Applied Optoelectronics Shareholders Have Legal
Options
Concerned Applied Optoelectronics shareholders who would like
more information about remedies from the alleged misconduct may
contact attorneys Amber Eck or Kathleen Herkenhoff at 619-342-8000,
ambere@haelaw.com or kathleenh@haelaw.com. An October 4, 2017
deadline has been announced to seek lead plaintiff status in the
Class Action. Company shareholders have several options to consider
in seeking to challenge the alleged misconduct described above.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights and consumer protection law. The firm represents
individual investors in shareholder derivative lawsuits, and
members of the firm have helped shareholders recover more than $1
billion of value for themselves and the companies in which they
have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20170922005166/en/
Haeggquist & Eck, LLP619-342-8000Amber Eck,
ambere@haelaw.comKathleen Herkenhoff, kathleenh@haelaw.com
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