Cases
Acacia Communications, Inc.
Securities Class Action
Overview
Overview
- Date:
- 10/11/2017
- Company Name:
- Acacia Communications, Inc.
- Stock Symbol:
- ACIA
- Class Period:
- FROM 8/11/2016 TO 7/13/2017
- Status:
- Closed/Complete
NEW YORK, October 11, 2017 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired District of Massachusetts (NASDAQ: ACIA) securities between August 11, 2016 and July 13, 2017 (the “Class Period”). Investors have until October 13, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, Defendants issued materially 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 announced it had "identified a quality issue" affecting a fraction of certain units manufactured "by one of its three contract manufacturers over an approximate four month period." Acacia cited a "circuit board cleaning process" as the "root cause of this quality issue" and the process was eliminated. Then, on July 14, 2017, Acacia revealed its preliminary financial and operating results for the quarter ended June 30, 2017, reporting that the "second quarter results were adversely affected by" the previously announced quality issue.
If you purchased or otherwise acquired Acacia securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The Complaint alleges that throughout the Class Period, Defendants issued materially 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 announced it had "identified a quality issue" affecting a fraction of certain units manufactured "by one of its three contract manufacturers over an approximate four month period." Acacia cited a "circuit board cleaning process" as the "root cause of this quality issue" and the process was eliminated. Then, on July 14, 2017, Acacia revealed its preliminary financial and operating results for the quarter ended June 30, 2017, reporting that the "second quarter results were adversely affected by" the previously announced quality issue.
If you purchased or otherwise acquired Acacia securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.