IRVINE, Calif., Oct. 12, 2017 (GLOBE NEWSWIRE) — Khang & Khang LLP (the “Firm”) announces a securities class action lawsuit against Acacia Communications, Inc. (“Acacia” or the “Company”) (Nasdaq:ACIA). Investors who purchased or otherwise acquired Acacia shares from August 11, 2016 through July 13, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm by October 13, 2017, the lead plaintiff motion deadline.
If you purchased Acacia shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone at (949) 419-3834, or by e-mail at [email protected]
There has been no class certification in this case yet, and until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
The Complaint alleges that throughout the Class Period, Acacia made materially false and/or misleading statements, and/or failed to disclose: that the Company’s manufacturing and quality control processes were deficient; that the foregoing deficiencies would likely disrupt the Company’s manufacturing and impact its revenues; and that as a result of the above, Acacia’s public statements were materially false and misleading at all relevant times.
On May 31, 2017, Acacia issued a press release and filed a Current Report on Form 8-K with the SEC, advising investors that “the Company has identified a quality issue” affecting “a portion” of several thousand modules manufactured by one of Acacia’s three contract manufacturers, citing as the “root cause of this quality issue . . . a circuit board cleaning process that has since been eliminated.” On July 14, 2017, Acacia issued a press release announcing the Company’s preliminary financial and operating results for the quarter ended June 30, 2017. Acacia reported profit and revenue that missed estimates, and revised its current-quarter guidance downward. The Company stated that its “second-quarter results were adversely affected by the quality issue identified at one of our three contract manufacturers that we announced on May 31.” When this information became public, Acacia’s stock price fell materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have questions about this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at [email protected]
This press release may constitute Attorney Advertising in some jurisdictions.
Joon M. Khang, Esq.
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