The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased shares of Sonus Networks, Inc. ("Sonus") (NASDAQ: SONS) (as of October 30, 2017, now Ribbon Communications, Inc. and trading as NASDAQ: RBBN) between January 8, 2015 and March 24, 2015.
The complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company would fall materially short of its $74 million revenue forecast; (2) defendants knew that unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, a fact that senior sales personnel regularly communicated to defendants; (3) a number of 2015 sales had been “pulled forward” to buoy sales numbers in Q4 2014, at management’s express direction, and (4) the “backlog” of sales expected to be recognized in early 2015 was significantly lower than usual.
If you suffered a loss in Sonus you have until January 7, 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.
To receive more information, please fill out the form.