|Company name||Arlo Technologies, Inc.|
|Class period||July 31, 2018 – January 22, 2019|
|Lead plaintiff deadline||March 25, 2019|
|Court||Northern District of California|
NEW YORK, January 22, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Arlo Technologies, Inc. (NYSE: ARLO) securities between July 31, 2018 and January 22, 2019 (the “Class Period”). Investors have until March 25, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) there was a flaw and/or quality issue with Arlo’s newly designed battery for its Ultra camera systems; (ii) this flaw and/or quality issue with the Ultra battery could result in a shipping delay of Arlo’s Ultra product; (iii) such a shipping delay endangered Arlo’s chances of launching the Ultra product in time for the crucial holiday season; (iv) such a shipping delay would allow Arlo’s competitors to capitalize on the Ultra product’s missed launch, thereby increasing their own market share; (v) Arlo’s consumers had been experiencing battery drain issues and other battery-related issues in connection with recent firmware updates; (vi) because of the foregoing, Arlo’s fourth quarter 2018 results and consumer base would be negatively impacted; and (vii) as a result, Arlo’s Registration Statement was materially false and misleading at all relevant times.
If you purchased Arlo securities during the Class Period or continue to hold shares purchased before 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 Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.