San Diego – (Businesswire): Haeggquist & Eck, LLP a shareholder rights litigation firm, announces an investigation of potential corporate misconduct at Applied Optoelectronics, Inc. (NASDAQ: AAOI) (“Applied Optoelectronics” or the “Company”), a manufacturer of lasers and transceivers used to build fiberoptic networking equipment. The investigation centers upon potential misrepresentations issued on behalf of the Company by its executives concerning the status of product purchases and/or demand by the Company’s customers, including key customer Amazon.com, Inc. (“Amazon”) (NASDAQ: AMZN).
A securities class action (the “Class Action”) has been filed against the Company and certain of its executives, alleging a proposed class period covering purchasers of the Company’s securities between July 13, 2017 through August 3, 2017, inclusive (the proposed “Class Period”). The Class Action alleges that throughout the Class Period, the named defendants made false and misleading statements and failed to disclose that: (1) Amazon was reducing its purchases of Applied Optoelectronics’ 40G receivers; (2) the loss of Amazon’s business would have a severe negative impact on Applied Optoelectronics’ financial performance; and (3) as a consequence, statements concerning the Company’s financial and operational performance during the Class Period were materially false and misleading. The Class Action alleges that investors were harmed when the Company’s stock price declined from $97.99 per share on August 3, 2017 to $64.60 per share on August 4, 2017 as negative news issued concerning decreased demand for the Company’s products.
Applied Optoelectronics Shareholders Have Legal Options
Concerned Applied Optoelectronics shareholders who would like more information about remedies from the alleged misconduct may contact attorneys Amber Eck or Kathleen Herkenhoff at 619-342-8000, email@example.com or firstname.lastname@example.org. An October 4, 2017 deadline has been announced to seek lead plaintiff status in the Class Action. Company shareholders have several options to consider in seeking to challenge the alleged misconduct described above.
Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights and consumer protection law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.
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