NEW YORK, Feb. 6, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A., a global investor rights firm, announces a class action lawsuit has been filed on behalf of investors who purchased American Depository Shares of A10 Networks, Inc. (NYSE:ATEN) since the date of the Company's Initial Public Offering (IPO) on March 21, 2014. The lawsuit seeks to recover investors' losses by asserting claims under the federal securities laws.
To join the A10 class action, visit the firm's website at http://www.rosenlegal.com/cases-503.html, or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
According to the lawsuit, A10 Networks and certain of its officers and directors made false and/or misleading statements about the A10 Networks in the Registration Statement. On November 26, 2013, the Company filed with the SEC a Registration Statement on Form S-1, which would later be used in conjunction with the IPO following several amendments made in response to SEC comments. On March 21, 2014, the SEC declared the Registration statement effective, and afterwards the Company sold nine million shares and certain "Selling Stockholders" sold another 3.845 million shares.
On October 8, 2014, the Company announced third quarter revenue of approximately $43.0 million to $43.5 million, below the company's prior guidance of $48.0 million to $50.0 million. On this news, shares of A10 fell $3.35, or 42%, to close at $4.55 on October 8, 2014.
If you wish to join the litigation go to http://www.rosenlegal.com/cases-503.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.