ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
NEW YORK, Feb. 11, 2016 -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the Superior Court of the State of California, County of San Mateo, on behalf of investors who purchased Ooma, Inc. (NYSE:OOMA) securities pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company’s Initial Public Offering on July 17, 2015.
Click here to learn about the case: http://docs.wongesq.com/OOMA-Info-Request-Form-1111. There is no cost or obligation to you.
The complaint alleges that Ooma failed to disclose material information in its Registration Statement, including: (a) that certain exceptionally large prior fiscal year sales to its largest outside reseller were not recurring or being replaced in the fiscal year leading into the IPO; (b) that the company’s customer churn rate, or rate of customer terminations or failures to renew, had increased significantly as of the IPO as a result of customers having endured eight-hour service outages in April and May 2015; and (c) that technological difficulties in the company’s lead generation business were causing leads to get lost in the internet before reaching their intended targets, thus negatively impacting the company’s business.
On July 17, 2015, Ooma successfully raised $65 million in its IPO. Ooma’s stock now trades at approximately half the IPO price of $13 per share, and recently closed at $6.49 per share on January 15, 2016.
If you suffered a loss in Ooma and would like to obtain additional information, contact Vincent Wong, Esq. either via email [email protected], by telephone at 212.425.1140, or visit http://docs.wongesq.com/OOMA-Info-Request-Form-1111.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Vincent Wong, Esq. 39 East Broadway Suite 304 New York, NY 10002 Tel. 212.425.1140 Fax. 866.699.3880 E-Mail: [email protected]
