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.