RADNOR, Pa.--(BUSINESS WIRE)--A shareholder class action complaint has been filed against A10 Networks, Inc. (NYSE: ATEN) (“A10” or the “Company”) on behalf of certain purchasers of the Company’s common stock between February 9, 2016 and January 30, 2018, inclusive (the “Class Period”).
The complaint alleges that A10 made a series of false and misleading statements to investors about the Company’s financial statements and internal controls during the Class Period, which caused investors to purchase A10’s common stock at artificially inflated prices during the Class Period.
IMPORTANT NEW DEADLINE: Investors who purchased A10’s common stock during the Class Period may, no later than July 27, 2018, seek to be appointed as a lead plaintiff representative of the class. Investors are encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 for additional information about this action or to discuss their important legal rights and options. A10 investors may also visit http://kaskelalaw.com/case/a10-networks/ to submit their information to the firm online.
As detailed in the complaint, on January 16, 2018, the Company disclosed that it only expected “total revenue in the fourth quarter 2017 to be between $55.5 million and $56.0 million, below its prior guidance of $64.0 million to $67.0 million.” Following this news, shares of A10’s common stock fell $0.99 per share, or over 13%, to close on January 17, 2018 at $6.32.
Then, on January 30, 2018, A10 disclosed that its Audit Committee was investigating certain of the Company’s accounting practices, with the investigation “principally focused on certain revenue recognition matters from the fourth quarter of 2015 through the fourth quarter of 2017.” Following this news, shares of A10’s common stock fell $0.86 per share, or over 12%, to close on January 31, 2018 at $6.13.
A10 investors are encouraged to contact Kaskela Law LLC to discuss this action or visit http://kaskelalaw.com/case/a10-networks/ to submit their contact information to the firm online. Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.