NEW YORK, March 23, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against A10 Networks, Inc. (“A10” or the “Company”) (NYSE:ATEN) and certain of its officers, on behalf of shareholders who purchased A10 securities during the period between February 9, 2016 and January 30, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/aten.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose that: (1) A10 Networks had issues with its internal controls that required an Audit Committee investigation; (2) A10 Networks’ revenues since the fourth quarter of 2015 were false due to improper revenue recognition which prompted an investigation by the Company’s Audit Committee; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On January 16, 2018, A10 Networks revealed that it expected its fourth quarter 2017 revenue to be between $55.5 million and $56 million, lower than its previous guidance of $64 million to $67 million. Following this news, A10 stock dropped $0.99 per share or over 13% to close at $6.32 per share on January 17, 2018. Then, on January 30, 2018, A10 revealed that its Audit Committee was investigating its revenue recognition practices from the fourth quarter of 2015 through the fourth quarter of 2017. Following this news, A10 stock dropped $0.86 per share or over 12% to close at $6.13 per share on January 31, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/aten or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in A10 you have until May 21, 2018 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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com