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Sonus Networks, Inc.

Case Summary

Sonus Networks, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 02/19/2020 (Date of last review)

Filing Date: November 08, 2018

According to the Complaint, Sonus provides networked solutions from communications service providers and enterprises, bringing intelligence and security to real-time communications.

The Complaint alleges that Defendants knew that the Company would fall materially short of its $74 million revenue forecast, that Defendants knew that the unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, and that Defendants knew that a number of 2015 sales had been “pulled forward” to buoy sales numbers in Q4 2014, at management’s express direction, and that the “backlog” of sales expected to be recognized in early 2015 was significantly lower than usual.

On June 21, 2019, the Court issued an Order appointing Lead Co-Plaintiffs and Co-Lead Counsel. Lead Plaintiffs filed an amended Complaint on July 19.

Company & Securities Information

Defendant: Sonus Networks, Inc.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SONS
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

Ron Miller, et al. v. Sonus Networks, Inc., et al.

COURT: D. Massachusetts
DOCKET #: 18-CV-12344
JUDGE: Hon. George A. OToole, Jr.
DATE FILED: 11/08/2018
CLASS PERIOD START: 01/08/2015
CLASS PERIOD END: 03/24/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Andrews DeValerio LLP
  2. Glancy Prongay & Murray LLP
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violations of the Federal Securities Laws 11/08/2018
2 Order 06/21/2019
3 U.S. District Court Civil Docket 07/01/2019

Reference Complaint

Guiseppe Veleno, et al. v. Sonus Networks, Inc., et al.

COURT: D. Massachusetts
DOCKET #: 18-CV-12344
JUDGE: Hon. George A. OToole, Jr.
DATE FILED: 07/19/2019
CLASS PERIOD START: 01/08/2015
CLASS PERIOD END: 03/24/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Andrews DeValerio LLP
  2. Glancy Prongay & Murray LLP (New York)
  3. The Rosen Law Firm, P.A. (Jenkintown)
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Class Action Complaint for Violations of the Federal Securities Laws 07/19/2019
2 U.S. District Court Civil Docket 07/19/2019

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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