Kaskela Law LLC: Shareholder Class Action Filed Against A10 Networks, Inc. – ATEN

RADNOR, Pa., May 06, 2018 -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against A10 Networks, Inc. (NYSE:ATEN) (“A10” or the “Company”) on behalf of purchasers of the Company’s securities between February 9, 2016 and January 30, 2018, inclusive (the “Class Period”).

A10 investors are encouraged to visit www.kaskelalaw.com/case/a10-networks-inc/ to receive additional information about this action and submit their information online.  Investors may also contact attorney D. Seamus Kaskela at (888) 715 – 1740, or via email at [email protected], to discuss their legal rights and options with respect to this action.

On January 16, 2018, A10 issued a press release entitled “A10 Networks Announces Preliminary Fourth Quarter 2017 Results.” That press release revealed that the Company 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 the Company’s Audit Committee had commenced an investigation into certain accounting practices, and that the investigation was “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 fell $0.86 per share, or over 12%, to close on January 31, 2018 at $6.13.

The shareholder class action lawsuit alleges that A10 and certain of its executive officers made a series of false and misleading statements about the Company’s financial statements and internal controls.  The complaint further alleges that, as a result of the foregoing, investors purchased A10’s common stock at artificially inflated prices during the Class Period and sustained significant investment losses when the truth was revealed.

Investors who purchased A10 securities during the Class Period may, no later than May 21, 2018, seek to be appointed as a lead plaintiff representative of the class through Kaskela Law or other counsel, or may choose to do nothing and remain an absent class member.  In order to be appointed as a lead plaintiff a class member must meet certain legal requirements. 

Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(888) 715 – 1740
[email protected]
www.kaskelalaw.com