Applied Optoelectronics, Inc. Securities Litigation
On or around 06/04/2020 (Date of last review)
Filing Date: August 05, 2017
According to the law firm press release, Applied Optoelectronics, Inc. develops and manufactures advanced optical products which are the building blocks for broadband and fiber access networks primarily for Internet data center, cable television (CATV), and fiber-to-the-home (FTTH) networking end-market.
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) a major customer was reducing its purchases of the Company’s 40G receivers; (ii) the loss of this major customer’s business would have a severe negative impact on the Company’s financial performance; and (iii) as a result of the foregoing, Optoelectronics’ public statements were materially false and misleading at all relevant times.
On January 22, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on March 6. Defendants filed a Motion to Dismiss the consolidated amended Complaint on April 4. On March 27, 2019, the Court issued an Order denying Defendants' Motion to Dismiss. Lead Plaintiff filed a second consolidated amended Complaint on May 24. On May 28, Plaintiffs filed a class certification motion. On December 20, the Court issued an Order granting Plaintiffs' Motion to Certify.
The parties notified the Court that they had reached an agreement in principle to settle the case on June 3, 2020.
Company & Securities Information
Defendant: Applied Optoelectronics, Inc.
Headquarters: United States
Ticker Symbol: AAOI
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.
First Identified Complaint
Mona Abouzied, et al. v. Applied Optoelectronics, Inc., et al.