NEW YORK, Aug. 23, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against Juniper Networks, Inc. ("Juniper Networks" or the "Company") (NYSE:JNPR) and certain of its officers. The class action, filed in United States District Court, Northern District of California, and docketed under 13-cv-03733, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Juniper Networks between April 24, 2012 and August 8, 2013 both dates inclusive (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Juniper Networks securities during the Class Period, you have until October 11, 2013 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
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 of $20.92 per share on August 9, 2013.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.