National securities litigation firm Glancy
Prongay & Murray LLP (“GPM”) announces extended lead plaintiff
deadline in class action lawsuit filed on behalf of investors
that purchased or otherwise acquired securities of A10 Networks,
Inc. (“A10” or the “Company”) (NYSE: ATEN)
between February 9, 2016 and January 30, 2018, inclusive
(the “Class Period”). A10 investors now have until July 27, 2018 to
file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
On January 16, 2018, A10 announced that it expected fourth quarter 2017
revenue to be between $55.5 million and $56.0 million, which was below
its prior guidance of $64.0 million to $67.0 million. On this news,
A10’s stock price fell nearly 14%, thereby injuring investors.
Then, on January 30, 2018, A10 disclosed that the Company’s Audit
Committee was investigating the Company’s revenue recognition practices
from the fourth quarter of 2015 through the fourth quarter of 2017,
inclusive. On this news, A10’s stock price fell nearly 12% on January
31, 2018, thereby further injuring investors.
The complaint filed in this class action alleges that Defendants made
false and/or 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. The initial deadline to move for lead
plaintiff was May 21, 2018, and on June 29, 2018, the Court denied those
motions without prejudice and reopened the lead plaintiff process, with
a revised lead plaintiff deadline of July 27, 2018.
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If you purchased shares of A10 during the Class Period you may move the
Court no later than July 27, 2018 to ask the Court to
appoint you as lead plaintiff. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to email@example.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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