San Diego, CA -- (SBWIRE) -- 01/15/2019 -- An investor in shares of Arlo Technologies, Inc. (NYSE: ARLO) filed a lawsuit over alleged violations of Securities Laws by Arlo Technologies, Inc in connection with the Company's Initial Public Offering ("IPO").

Investors who purchased shares of Arlo Technologies, Inc. (NYSE: ARLO) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Sa Jose, CA based Arlo Technologies, Inc. provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. On or around August 3, 2018, Arlo Technologies, Inc. completed its IPO selling 11,747,250 shares of common stock priced at $16.00 per share. Shares of Arlo Technologies, Inc. (NYSE: ARLO) reached as high as $23.77 per share on August 27, 2018.

On November 30, 2018, Arlo Technologies, Inc. announced its "flagship wire-free security camera system" called Arlo Ultra ("Ultra"). The Company touted a "newly designed rechargeable battery" that would purportedly enable the Ultra product to provide 4K Ultra HD resolution with high dynamic range, color night vision, and advanced image processing.

Then, on December 3, 2018, Arlo Technologies, Inc. reported a delay in shipments of Ultra, citing "a quality issue with the battery from one of its suppliers" that was discovered during the product's final testing phase. As a result of the delay, Ultra also lowered its fourth quarter 2018 financial guidance, advising investors that it anticipated "net revenue to be in the range of $125 million to $130 million, non-GAAP gross margin to be approximately 10%, and non-GAAP operating loss to be approximately 20% of revenue."

Shares of Arlo Technologies, Inc. (NYSE: ARLO) declined to $8.76 per ahare on December 6, 2018.

The plaintiff alleges that the Registration Statement filed in connection with the Company's IPO was materially false and misleading and omitted to state that there was a quality issue with certain batteries used in Arlo's new flagship wire-free security camera system, Arlo Ultra, that quality issues could delay the commercial launch of Arlo's Ultra product, that the quality issues with the Arlo product jeopardized Arlo's ability to launch the product in time for the crucial holiday season, that a delay in launching Arlo's Ultra would result in a product void that would be filled by Arlo's competitors, allowing them to gain market share, that Arlo users had been experiencing problems with battery drain, including among others, battery issues associated with recent firmware updates, that, as a result of the foregoing, the Company's revenue, earnings, financial performance, and ability to expand its user base, would be negatively impacted, and that, as a result of the foregoing, Defendants' statements in the Registration Statement regarding Arlo's business, operations, and prospects, were materially false and/or misleading.

Those who purchased shares of Arlo Technologies, Inc. (NYSE: ARLO) have certain options and should contact the Shareholders Foundation.

About Shareholders Foundation, Inc.
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.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com