An investigation for investors in DZS Inc. (NASDAQ:DZSI) shares over potential securities laws violations by DZS Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/14/2023 -- DZS Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of DZS Inc. (NASDAQ: DZSI), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by DZS Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Plano, TX based DZS Inc. provides access and optical networking infrastructure and cloud software solutions in the Americas, Europe, the Middle East, Africa, and Asia.
DZS Inc. reported that its annual Total Revenue rose from $350.2 million in 2021 to $375.69 million in 2022, and that its Net Loss increased from $34.68 million in 2021 to $37.43 million in 2022.
On June 1, 2023, before the market opened, DZS Inc. disclosed that it needs to restate its previously issued financial statements for the first quarter of 2023. DZS Inc. further disclosed that the restatement relates to approximately $15 million in revenue recognized in connection with two customer projects.
Shares of DZS Inc. (NASDAQ: DZSI) declined from $7.39 per share on May 19, 2023, to $.326 per share on June 06, 2023.
Those who purchased shares of DZS Inc. (NASDAQ: DZSI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.