NEW YORK, Sept. 12, 2017 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Acacia Communications, Inc. ("Acacia") (NASDAQ:ACIA) between August 11, 2016 and July 13, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Massachusetts. To get more information go to:
http://www.zlk.com/pslra-sba/acacia-communications-inc?wire=3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. 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 suffered a loss in Acacia you have until October 13, 2017 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.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com