NEW YORK, Aug. 20, 2019 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Casa Systems, Inc. (NASDAQ: CASA) resulting from allegations that Casa may have issued materially misleading business information to the investing public.
In December 2017, Casa completed its initial public offering (“IPO”) in which it offered 6 million shares of its common stock at $13.00 per share. Casa’s registration documents stated that new technology initiatives would allow for a compelling market opportunity and touted the fact that these initiatives would prompt Casa Systems to experience continued rapid growth. However, Casa knew its key customers’ spending had entered a “digestion” period that mitigated their expenditures. On August 14, 2018, Casa announced disappointing financial results and cut its revenue guidance for the year by $50 million.
On this news, Casa stock declined from $15.60 to $12.08, a drop of almost 23%. Since then, Casa System has continued to have disappointing financial results and the stock trades over 50% below its IPO price.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Casa investors. If you purchased shares of Casa please visit the firm’s website at http://www.rosenlegal.com/cases-register-1623.html to join the class action. You may also contact Phillip Kim Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected]
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney advertising. Prior results do not guarantee future outcomes.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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