NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Acacia Communications, Inc. (NASDAQ:ACIA) resulting from allegations that Acacia may have issued materially misleading business information to the investing public.
On May 31, 2017, Acacia disclosed that “the Company has identified a quality issue” affecting “a portion” of several thousand modules manufactured by one of Acacia’s three contract manufacturers, citing as the “root cause of this quality issue…a circuit board cleaning process that has since been eliminated.” On July 14, 2017, Acacia announced preliminary financial and operating results for the quarter ended June 30, 2017, reporting profit and revenue that missed estimates, and revising its current-quarter guidance downward. Acacia stated that its “second-quarter results were adversely affected by the quality issue identified at one of our three contract manufacturers that we announced on May 31.” On this news, shares of Acacia fell $2.62 per share or 6.30% to close at $39.00 per share on July 14, 2017, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Acacia investors. If you purchased shares of Acacia, please visit the firm’s website at http://www.rosenlegal.com/cases-1164.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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