WILMINGTON, Del.–(BUSINESS WIRE)–Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Applied Optoelectronics, Inc.
(NASDAQ GM: AAOI)?
- Did you purchase your shares between August 7, 2018 and September
27, 2018, inclusive?
- Did you lose money in your investment?
& Long, P.A. announces that a complaint has been filed in the
United States District Court for the Southern District of Texas on
behalf of all persons or entities that purchased the common stock of
Applied Optoelectronics, Inc. (“Applied Optoelectronics” or the
“Company”) (NASDAQ GM: AAOI)
between August 7, 2018 and September 27, 2018, inclusive (the “Class
Period”), alleging violations of the Securities Exchange Act of 1934
against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Applied Optoelectronics during the Class
Period, or purchased shares prior to the Class Period and
still hold Applied Optoelectronics, and wish to discuss this action or
have any questions concerning this notice or your rights or interests,
please contact Seth D. Rigrodsky or Timothy J. MacFall at Rigrodsky &
Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, Delaware 19801,
by telephone at (888) 969-4242, or by e-mail at firstname.lastname@example.org.
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: (1) certain of the Company’s lasers were
susceptible to fail prematurely; (2) certain of the Company’s
transceivers utilizing these lasers would be materially affected; and
(3) as a result of the foregoing, Defendants’ positive statements about
the Company’s business, operations, and prospects, were materially
misleading and/or lacked a reasonable basis. As a result of defendants’
alleged false and misleading statements, the Company’s stock traded at
artificially inflated prices during the Class Period.
According to the Complaint, on September 27, 2018, an analyst with Loop
Capital Markets downgraded the Company’s 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 because the product quality issues suggested that the
Company would start procuring lasers externally through 2019. Then, on
September 28, 2018, the Company cut its revenue guidance for the third
quarter 2018 because it had identified an issue with its lasers that
caused them to temporarily suspend shipments of certain transceivers.
On this news, shares of Applied Optoelectronics declined more than 13%,
closing at $24.66 per share on September 28, 2018, on heavy trading
If you wish to serve as lead plaintiff, you must move the Court no later
than November 30, 2018. A lead plaintiff is a representative
party acting on behalf of other class members in directing the
litigation. Any member of the proposed class may move the court to serve
as lead plaintiff through counsel of their choice, or may choose to do
nothing and remain an absent class member.
Attorney advertising. Prior results do not guarantee a similar outcome.