NEW YORK, NY / ACCESSWIRE / April 24, 2018 / Pomerantz LLP is investigating claims on behalf of investors of A10 Networks, Inc. ("A10" or the "Company") (NASDAQ: ATEN). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether A10 and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 16, 2018, A10 issued a press release advising investors that the Company "expects 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." A10 stated that it was "disappointed with our revenue results," citing "a shortfall in North America sales as we experienced lower than expected seasonal demand trends in the region." On this news, A10's share price fell $0.99, or 13.54%, to close at $6.32 on January 17, 2018.
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," advising investors that A10's Audit Committee was investigating the Company's revenue recognition practices for the fourth quarter of 2015 through the fourth quarter of 2017. On this news, A10's share price fell $0.86, or 12.3%, to close at $6.13 on January 31, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
