|[September 23, 2017]
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Acacia Communications, Inc. of Class Action Lawsuit and Upcoming Deadline - ACIA
Pomerantz LLP announces that a class action lawsuit has been filed
against Acacia Communications, Inc. ("Acacia" or the "Company")
(NASDAQ:ACIA) and certain of its officers. The class action, filed in
United States District Court, District of Massachusetts, and docketed
under 17-cv-11504, is on behalf of a class consisting of investors who
purchased or otherwise acquired Acacia securities, seeking to recover
compensable damages caused by defendants' violations of the Securities
Exchange Act of 1934.
If you are a shareholder who purchased Acacia securities between August
11, 2016, and July 13, 2017, both dates inclusive, you have until
October 13, 2017, to ask the Court to appoint you as Lead Plaintiff for
the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org
or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who
inquire by e-mail are encouraged to include their mailing address,
telephone number, and the number of shares purchased.
here to join this class action]
Acacia designs, develops, manufactures, and markets communication
equipment. The Company offers high-speed coherent optical interconnect
products for cloud infrastructure operators and content and
communication service providers. Acacia Communications serves customers
The Complaint alleges that throughout the Class Period, Defendants made
materially false and misleading statements regarding the Company's
business, operational and compliance policies. Specifically, Defendants
made false and/or misleading statements and/or failed to disclose that:
(i) the Company's manufacturing and quality control processes were
deficient; (ii) the foregoing deficiencies were likely to disrupt the
Company's manufacturing, thereby impacting the Company's revenues; and
(iii) as a result of the foregoing, Acacia's public statements were
materially false and misleading at all relevant times.
On May 31, 2017, Acacia issued a press release and filed a Current
Report on Form 8-K with the Securities and Exchange Commission, advising
investors 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
On July 14, 2017, Acacia issued a press release announcing the Company's
preliminary financial and operating results for the quarter ended June
30, 2017. The Company reported profit and revenue that missed estimates,
and revised its current-quarter guidance downward. Acacia stated that
the Company's "second-quarter results were adversely affected by the
quality issue identified at one of our three contract manufacturers that
we announced on May 31."
On this news, Acacia's share price fell $2.62, or 6.30%, to close at
$39.00 per share on July 14, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170923005015/en/
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