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INVESTOR ALERT: Kaskela Law LLC Announces Important New Deadline in Shareholder Class Action Lawsuit Filed Against A10 Networks, Inc.

RADNOR, Pa., July 18, 2018 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against A10 Networks, Inc. (NYSE:ATEN) (“A10” or the “Company”) on behalf of certain purchasers of the Company’s common stock between February 9, 2016 and January 30, 2018, inclusive (the “Class Period”). 

IMPORTANT NEW DEADLINE:  Investors who purchased A10’s common stock during the Class Period may, no later than July 27, 2018, seek to be appointed as a lead plaintiff representative of the class.  A10 investors are encouraged to immediately contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 and/or submit their information to the firm online at  http://kaskelalaw.com/case/a10-networks/.

The complaint alleges that A10 made a series of false and misleading statements to investors about the Company’s financial statements and internal controls during the Class Period.  The complaint further alleges that, as a result of the foregoing, investors purchased A10’s common stock at artificially inflated prices during the Class Period and suffered significant investment losses following the Company’s disclosures.

Specifically, on January 16, 2018, the Company disclosed that it only expected “total revenue in the fourth quarter 2017 to be between $55.5 million and $56.0 million, below its prior guidance of $64.0 million to $67.0 million.”  Following this news, shares of A10’s common stock fell $0.99 per share, or over 13%, to close on January 17, 2018 at $6.32.

Then, on January 30, 2018, A10 disclosed that its Audit Committee was investigating certain of the Company’s accounting practices, with the investigation “principally focused on certain revenue recognition matters from the fourth quarter of 2015 through the fourth quarter of 2017.”  Following this news, shares of A10’s common stock fell $0.86 per share, or over 12%, to close on January 31, 2018 at $6.13.

Finally, on July 2, 2018, A10 admitted that certain of its historical financial statements “should no longer be relied upon and should be restated.”

A10 investors are encouraged to contact Kaskela Law LLC and/or submit their information to the firm online at  http://kaskelalaw.com/case/a10-networks/.  Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country in securities fraud and stockholder protection cases.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT:

KASKELA LAW LLC
David Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 – 1585
(888) 715 – 1740
info@kaskelalaw.com
www.kaskelalaw.com

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