A lawsuit was filed on behalf of investors in A10 Networks Inc (NYSE:ATEN) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 04/02/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of A10 Networks Inc (NYSE:ATEN), filed a lawsuit over alleged violations of Federal Securities Laws by A10 Networks Inc.
Investors who purchased shares of A10 Networks Inc (NYSE:ATEN) have certain options and for certain investors are short and strict deadlines running. Deadline: May 21, 2018. NYSE:ATEN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between February 9, 2016 and January 30, 2018 the defendants made false and/or misleading statements and/or failed to disclose that A10 Networks had issues with its internal controls that required an Audit Committee investigation, that A10 Networks' revenues since the fourth quarter of 2015 were false due to improper revenue recognition which prompted an investigation by the Company's Audit Committee, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.
On January 16, 2018, A10 Networks Inc announced its preliminary results for the fourth quarter of 2017. Lee Chen, President and CEO, stated: "We are disappointed with our revenue results for the quarter, which were below our guidance primarily due to a shortfall in North America sales as we experienced lower than expected seasonal demand trends in the region."
Then on January 30, 2018, A10 Networks Inc announced it was postponing its 2017 fourth quarter and full year earnings announcement and conference call after determining that a "mid-level employee within its finance department had violated the Company's Insider Trading Policy and Code of Conduct."
Those who purchased shares of A10 Networks Inc (NYSE:ATEN) have certain options and should contact the Shareholders Foundation.
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