According to the law firm press release, Juniper Networks, Inc. designs, develops, and sells products and services that provide network infrastructure for networking requirements of service providers, enterprises, governments, and research and public sector organizations worldwide.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business and operations. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was in violation of the U.S. Foreign Corrupt Practices Act ("FCPA"); (2) the Company lacked effective internal controls over financial reporting; and, (3) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
On August 8, 2013, after the market closed, the Company disclosed that the SEC and the U.S. Department of Justice, "are conducting investigations into possible violations by the Company of the U.S. Foreign Corrupt Practices Act." On this news, shares fell $1.24 approximately 5.13% percent to close at $20.92 per share on August 9, 2013.
On November 12, 2013, the Court issued an Order appointing lead plaintiff and approving lead counsel.
On January 9, 2014, the Lead Plaintiff filed a Notice voluntarily dismissing this action without prejudice.