SHAREHOLDER ALERT - Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Ribbon Communications, Inc. (RBBN) and Lead Plaintiff Deadline – January 7, 2019
12/07/2018 | 10:01am EDT
NEW YORK, Dec. 07, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Ribbon Communications, Inc. f/k/a Sonus Networks, Inc. ("Ribbon" or the "Company") (NASDAQ: RBBN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Ribbon securities between January 8, 2015 through March 24, 2015, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/rbbn.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Sonus would fall materially short of its $74 million revenue forecast; (2) defendants knew that unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, a fact that senior sales personnel regularly communicated to defendants; (3) a number of 2015 sales had been “pulled forward” to buoy sales numbers in Q4 2014, at management’s direction; (4) the “backlog” of sales expected to be recognized in early 2015 was significantly lower than usual; and (5) as a result, defendants’ public statements were materially false and misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: bgandg.com/rbbn or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ribbon you have until January 7, 2019 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.