NEW YORK, Sept. 13, 2017 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased Acacia Communications, Inc. ("Acacia Communications") (NASDAQ:ACIA) securities between August 11, 2016 and July 13, 2017.
Click here to learn about the case: http://www.wongesq.com/pslra-sb/acacia-communications-inc?wire=3. There is no cost or obligation to you.
According to the complaint, throughout the Class Period, the Company issued materially false and 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 Communications’ public statements were materially false and misleading at all relevant times.
On May 31, 2017, Acacia Communications announced it had “identified a quality issue” affecting a fraction of certain units manufactured “by one of its three contract manufacturers over an approximate four month period.” Acacia Communications cited a “circuit board cleaning process” as the “root cause of this quality issue” and the process was eliminated. Then on July 14, 2017, Acacia Communications revealed its preliminary financial and operating results for the quarter ended June 30, 2017, reporting that the “second quarter results were adversely affected by” the previously announced quality issue. The Company also said it “experienced supply constraints” and lowered its guidance for the quarter.
If you suffered a loss in Acacia Communications you have until October 13, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra-sb/acacia-communications-inc?wire=3.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.