BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of a class composed of all purchasers of the securities of Tellabs, Inc. (“Tellabs” or the “Company”) (NASDAQ:TLAB) between October 26, 2010 and April 26, 2011, inclusive (the “Class Period”).
Tellabs designs, develops and supports telecommunications networking products for communication service providers in the United States and internationally. The Complaint alleges that throughout the Class Period the defendants made false and misleading statements and/or failed to disclose material adverse facts about Tellabs’ business, operations and prospects. Specifically, defendants misrepresented and/or failed to disclose that: (a) in the fourth quarter of 2010, the Company was changing its distribution arrangement with a customer; (b) this change to the distribution arrangement masked that Tellabs’ business was declining substantially faster than the Company had represented to the public; (c) the Company's North American business was slowing at a greater rate than the Company had represented to the public; and (d) as a result of the above, the defendants' positive statements about the Company's business, operations and prospects lacked a reasonable basis.
No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Tellabs securities during the Class Period, you have certain rights, and have until March 25, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.