SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against ADTRAN, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / November 30, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against ADTRAN, Inc. ("ADTRAN" or "the Company") (NASDAQ:ADTN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between February 28, 2019 and October 9, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before December 16, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. ADTRAN suffered from material weaknesses in its internal controls over financial reporting. Due to this weakness, E&O reserves were improperly reported, resulting in the Company's financial results being misstated. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about ADTRAN, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm