BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Sonus Networks, Inc. (“Sonus” or the “Company”) (now known as Ribbon Communications, Inc.) (NASDAQ: RBBN) securities between January 8, 2015 and March 24, 2015, inclusive (the “Class Period”). Sonus investors have until January 7, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Sonus investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
The complaint filed in this class action alleges that Defendants knew that the Company would fall materially short of its $74 million revenue forecast. Defendants knew that the unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, a fact that senior sales personnel regularly communicated to Defendants. Defendants also knew that a number of 2015 sales had been “pulled forward” to buoy sales numbers in Q4 2014, at management’s express direction, and that the “backlog” of sales expected to be recognized in early 2015 was significantly lower than usual. And, upon disclosure of the Company’s poor results, the Company’s share price fell significantly in value-thereby injuring investors.
If you purchased shares of Sonus, have information or would like to learn more about these claims, or have any questions concerning this announcement 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 email@example.com, or visit our website at www.howardsmithlaw.com.
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