A10 investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, A10 provides software and hardware solutions in the United States and internationally.
The Class Period commences on February 9, 2016, when A10 issued a press release entitled “A10 Networks, Inc. Reports Record Revenue.” That press release discussed the Company’s fourth quarter 2015 results.
According to the complaint, on January 16, 2018, A10 issued a press release entitled “A10 Networks Announces Preliminary Fourth Quarter 2017 Results.” That press release revealed that the Company expected “total revenue in the fourth quarter 2017 to be between $55.5 million and $56.0 million, below its prior guidance of $64.0 million to $67.0 million.” Following this news, shares of A10’s common stock fell $0.99 per share, or over 13%, to close on January 17, 2018 at $6.32.
Then, on January 30, 2018, A10 issued a press release entitled “A10 Networks Announces Postponement of 2017 Fourth Quarter and Full Year Earnings Release and Conference Call.” That press release disclosed that A10’s Audit Committee had commenced an investigation into certain accounting practices, and reported that the investigation was “principally focused on certain revenue recognition matters from the fourth quarter of 2015 through the fourth quarter of 2017.” Following this news, shares of A10’s common fell $0.86 per share, or over 12%, to close on January 31, 2018 at $6.13.
The shareholder class action complaint alleges that, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose to investors that: (i) A10 Networks had issues with its internal controls that required an Audit Committee investigation; (ii) A10 Networks’ revenues since the fourth quarter of 2015 were false due to improper revenue recognition which prompted an investigation by the Company’s Audit Committee; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
If you are a member of the class described above, you may no later than May 21, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706 or by e-mail at firstname.lastname@example.org