Company: Applied Optoelectronics, Inc.
Class Period: August 7, 2018 — September 27, 2018
Court: U.S.D.C. – Southern District of Texas
Deadline: November 30, 2018
Kaskela Law LLC announces that an investor class action lawsuit has been filed against Applied Optoelectronics, Inc. (NASDAQ: AAOI) (“Applied Optoelectronics” or the “Company”) on behalf of purchasers of the Company’s common stock between August 7, 2018 and September 27, 2018, inclusive (the “Class Period”).
Beginning on September 27, 2018, shares of Applied Optoelectronics’ common stock significantly declined in value after: (i) an analyst downgraded the Company’s stock and reported product quality issues with certain of the Company’s products; and (ii) the Company decreased its quarterly revenue guidance to $55 – $58 million (from $82 – $92 million) and disclosed that it had “identified an issue with a small percentage of 25G lasers within a specific customer environment,” and that it would “temporarily suspend shipments of certain transceivers utilizing these lasers while we worked to gain a deeper understanding of the scope of the issue and implement a solution.” Following this news, shares of the Company’s common stock declined a total of $6.68 per share, or over 21%, to close on September 28, 2018 at $24.66 per share.
The investor class action complaint alleges that defendants failed to disclose to investors during the Class Period that: (i) certain of Applied Optoelectronics’ lasers were susceptible to fail prematurely; and (ii) certain of Applied Optoelectronics’ transceivers utilizing these lasers would be materially affected. The complaint further alleges that, as a result of the foregoing, investors purchased the Company’s common stock at artificially inflated prices during the Class Period and have been financial harmed.
IMPORTANT DEADLINE: Investors who purchased Applied Optoelectronics’ common stock during the Class Period may, no later than November 30, 2018, seek to be appointed as a lead plaintiff representative of the class.
Investors who purchased the Company’s common stock during the Class Period and suffered a financial loss are encouraged to contact Kaskela Law LLC at (888) 715 – 1740 and/or complete the information form on this page.