ADTRAN, Inc. Securities Litigation

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Lawsuit Overview

Defendant:ADTRAN, Inc.
Date Filed:October 17th, 2019
Industry:Telecommunications Equipment
Class Start Date:February 28th, 2019
Class End Date:October 9th, 2019

According to the Complaint, ADTRAN is a networking and communications company that provides services which enable voice, data, video, and internet communications across a variety of network infrastructures. ADTRAN also offers a broad portfolio of flexible software and hardware network solutions to service providers.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that there were material weaknesses in the Company's internal control over financial reporting; (2) that, as a result, certain E&O reserves had been improperly reported; (3) that, as a result, the Company's financial results for certain periods were misstated; (4) that there would be a pause in shipments to the Company's Latin American customer; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

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First Identified Complaint

Michael Burbridge, et al. v. ADTRAN, Inc., et al.

Date Filed:October 17th, 2019
Class Period Start:February 28th, 2019
Class Period End:October 9th, 2019
First Identified Complaint Filings
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