LOS ANGELES, CA / ACCESSWIRE / September 19, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Acacia Communications, Inc. ("Acacia" or the "Company") (NASDAQ: ACIA) for possible violations of federal securities laws from August 11, 2016 through July 13, 2017, inclusive (the "Class Period"). Investors, who purchased or otherwise acquired Acacia shares during the Class Period, should contact the firm prior to the October 13, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered to be represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Acacia made materially false and/or misleading statements, and/or failed to disclose: that its manufacturing and quality control processes were deficient; that the foregoing deficiencies would likely disrupt the Company's manufacturing and impact its revenues; and that, as a result, Acacia's public statements were materially false and misleading at all relevant times.
On May 31, 2017, Acacia disclosed that "the Company has identified a quality issue" affecting "a portion" of several thousand modules manufactured by one of Acacia's three contract manufacturers, citing as the "root cause of this quality issue...a circuit board cleaning process that has since been eliminated." On July 14, 2017, the Company issued a press release announcing that its preliminary financial and operating results for the quarter ended June 30, 2017. Acacia reported profit and revenue that missed estimates, and revised its current-quarter guidance downward. The Company disclosed that its "second-quarter results were adversely affected by the quality issue identified at one of our three contract manufacturers that we announced on May 31." When this information went public, shares of Acacia fell in value materially, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
SOURCE: Lundin Law PC
