NEW YORK, March 24, 2015 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces its investigation as to whether Sonus Networks, Inc. ("Sonus" or the "Company") issued materially false and misleading statements to investors in violation of the federal securities laws.
On March 24, 2015, Sonus Networks dropped its previously issued guidance. Sonus Networks stated that it now expected revenue to be in the range of $47 million to $50 million and non-GAAP loss per share to be in the range of $0.29 to $0.34 for the first quarter ending March 27, 2015 in comparison with a previous guidance of $74 million in revenue and non-GAAP diluted earnings of $0.03 per share. The Company also anticipates its revenue for the full year will be up to 25% lower than the midpoint of its previous annual guidance of $326 million to $330 million. Thereafter, shares of Sonus Networks fell sharply during trading on March 24, 2015.
If you invested in Sonus and lost money and are interested in discussing your rights and/or have information relating to the matter, please contact Thomas J. McKenna, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com.
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