Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In A10 Networks, Inc. (ATEN) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in A10 Networks, Inc. (“A10” or the “Company”) (NYSE: ATEN) of the March 30, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against A10, certain officers of the Company and Underwriters of the Company’s initial public offering (“IPO”).
A complaint has been filed in the Superior Court of the State of California, Santa Clara County on behalf of all persons who purchased A10 common stock pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with A10’s IPO (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that A10 failed to disclose that: (i) the Company’s 2013 sales growth had been increased by customer conversion rather than sales to new customers; (ii) A10 had experienced lower revenue bookings from its North American service provider customers; (iii) the Company’s sales closing cycles had been longer than usual; (iv) A10 lacked engineering staff and management oversight sufficient to close certain deals; and (v) the Company employed ineffective reporting controls over inventory.
Following the IPO, the price of the Company’s stock has declined by over $10.00 per share, or over 67%, from the IPO price of $15.00 per share.
If you invested in A10 common stock pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with A10’s IPO and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding A10’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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