The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased ADTRAN, Inc. (NASDAQ: ADTN) securities between February 28, 2019 and October 9, 2019.
According to the ADTRAN lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in the Company’s internal control over financial reporting; (2) as a result, certain E&O reserves had been improperly reported; (3) as a result, the Company’s financial results for certain periods were misstated; (4) there would be a pause in shipments to the Company’s Latin American customer; and (5) 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.
If you suffered a loss in ADTRAN you have until December 16, 2019 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.
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