NEW YORK, March 12, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Arlo Technologies, Inc. (NYSE: ARLO) pursuant or traceable to Arlo’s false and/or misleading Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with Arlo’s August 3, 2018 Initial Public Offering (“IPO”). The lawsuit seeks to recover damages for Arlo investors under the federal securities laws.

If you wish to serve as lead plaintiff, you must move the Court no later than March 25, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation http://zhanginvestorlaw.com/join-action-form/?slug=arlo-technologies-inc&id=1751, or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) there was a flaw and/or quality issue with Arlo’s newly designed battery for its Ultra camera systems; (2) this flaw and/or quality issue with the Ultra battery could result in a shipping delay of Arlo’s Ultra product; (3) such a shipping delay endangered Arlo’s chances of launching the Ultra product in time for the crucial holiday season; (4) such a shipping delay would allow Arlo’s competitors to capitalize on the Ultra product’s missed launch, thereby increasing their own market share; (5) Arlo’s consumers had been experiencing battery drain issues and other battery-related issues in connection with recent firmware updates; (6) because of the foregoing, Arlo’s fourth quarter 2018 results and consumer base would be negatively impacted; and (7) as a result, Arlo’s Registration Statement was materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class has not been certified.  You may retain counsel of your choice.  You may take no action at this time and be an absent class member.  Your ability to obtain a recovery is not dependent upon being a lead plaintiff.  Attorney Advertising.  Prior results do not guarantee similar outcomes.

Zhang Investor Law represents investors worldwide.

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