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Case Status:    SETTLED
On or around 09/18/2018 (Ongoing date of last review)

Filing Date: August 14, 2017

According to the law firm press release, Acacia designs, develops, manufactures, and markets communication equipment. The Company offers high-speed coherent optical interconnect products for cloud infrastructure operators and content and communication service providers. Acacia Communications serves customers worldwide.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s manufacturing and quality control processes were deficient; (ii) the foregoing deficiencies were likely to disrupt the Company’s manufacturing, thereby impacting the Company’s revenues; and (iii) as a result of the foregoing, Acacia’s public statements were materially false and misleading at all relevant times.

On November 9, 2017, the Court appointed Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated amended Complaint on January 8, 2018. On February 9, Defendants filed Motions to Dismiss the consolidated amended Complaint.

On May 1, 2018, one of the individual Plaintiffs dismissed the action. On June 15, the Court issued an Order granting Acacia Defendants', Selling Defendants', and the Underwriter Defendants' Motions to Dismiss. On July 27, the parties filed a Motion to Stay derivative cases and set schedule for preliminary Settlement approval. On September 14, the parties entered into a Stipulation of Settlement. In consideration of the Settlement, Acacia will adopt several corporate governance changes as described in the Stipulation of Settlement for a period of three years. On September 17, the Court issued an Order preliminarily approving the Settlement.

COMPANY INFORMATION:

Sector: Technology
Industry: Semiconductors
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ACIA
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 17-CV-11504
JUDGE: Hon. William G. Young
DATE FILED: 08/14/2017
CLASS PERIOD START: 08/11/2016
CLASS PERIOD END: 08/13/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Hutchings, Barsamian, Mandelcorn & Zeytoonian, LLP

    ·
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 17-CV-11504
JUDGE: Hon. William G. Young
DATE FILED: 01/08/2018
CLASS PERIOD START: 08/11/2016
CLASS PERIOD END: 07/13/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abraham, Fruchter & Twersky (New York, 42 Street)
    60 East 42 Street, Abraham, Fruchter & Twersky (New York, 42 Street), NY 10021
    212.687.6655 ·
  2. Block & Leviton LLP
    155 Federal Street, Suite 1303, Block & Leviton LLP, MA 02110
    (617) 398-5600 (617) 507-6020 ·
  3. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  4. Johnson Fistel, LLP (Marietta)
    40 Powder Springs Street, Johnson Fistel, LLP (Marietta), GA 30064
    770.200.3104 770.200.3104 ·
  5. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date
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