NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Acacia Communications, Inc. (“Acacia” or the “Company”) (NASDAQ: ACIA) concerning possible violations of federal securities laws.
On May 31, 2017, Acacia announced it had “identified a quality issue” affecting a fraction of certain units manufactured “by one of its three contract manufacturers over an approximate four month period.” Acacia cited a “circuit board cleaning process” as the “root cause of this quality issue” and the process was eliminated.
Then on July 14, 2017, Acacia revealed its preliminary financial and operating results for the quarter ended June 30, 2017, reporting that the “second quarter results were adversely affected by” the previously announced quality issue. The Company also said it “experienced supply constraints” and lowered its guidance for the current quarter. Following this news, Acacia stock has dropped as much as $2.37, or 5.69%, during intraday trading on July 14, 2017. To obtain additional information, go to:
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