Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
LOS ANGELES, Aug. 24, 2017 -- Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Acacia Communications, Inc. (“Acacia” or the “Company”) (Nasdaq:ACIA) concerning possible violations of federal securities laws between August 11, 2016 and July 13, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the October 13, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at [email protected].
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Acacia made materially false and/or misleading statements, and/or failed to disclose: that its manufacturing and quality control processes were deficient; that the foregoing deficiencies were likely to disrupt the Company’s manufacturing and impact its revenues; and that as a result of the above, Acacia’s public statements were materially false and misleading at all relevant times.
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 issued a press release announcing the Company’s preliminary financial and operating results for the quarter ended June 30, 2017. Acacia reported profit and revenue that missed estimates, and revised its current-quarter guidance downward. The Company 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.” When this information reached the public, shares of Acacia fell in value materially, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact: Lundin Law PC Brian Lundin, Esq. Telephone: 888-713-1033 Facsimile: 888-713-1125 [email protected] http://lundinlawpc.com/
