Lawsuit for Investors in shares of Casa Systems, Inc. (NASDAQ: CASA) announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / August 26, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Casa Systems, Inc. (NASDAQ:CASA) shares.

Investors, who purchased shares of Casa Systems, Inc. (NASDAQ:CASA) at $25 per share in the secondary offering that closed on April 30, 2019, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

Andover, MA based Casa Systems, Inc. provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. Casa Systems, Inc. went public in December 2017. It sold 6 million shares at $13.00 per share in its initial public offering.

The plaintiff alleges that Casa Systems’ registration documents stated that its core CCAP products and new technology initiatives would allow for a compelling market opportunity and touted the fact that these initiatives would prompt Casa Systems to experience continued rapid growth, while in reality these documents were false and misleading as Casa Systems failed to disclose material information about the state of its customers’ spending. The plaintiff claims that Casa Systems knew its key customers’ spending had entered a “digestion” period that curtailed any new product purchases.

On April 23, 2018, Casa Systems filed its Registration Statement for its secondary public offering (“SPO”) and on April 27, 2018, the Company filed its Prospectus with the SEC. On April 27, 2018, Casa Systems priced the SPO at $25.00 per share and offered to the public over 7 million Casa Systems shares.

On August 14, 2018, Casa Systems announced financial results and cut its revenue guidance for the year by $50 million.

Since then, shares of Casa Systems (NASDAQ:CASA) declined to as low as $5.46 per share on June 7, 2019.

Those, who purchased shares of Casa Systems, Inc. (NASDAQ:CASA) at $25 per share in the secondary offering that closed on April 30, 2019, should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 557401