Robbins arroyo llp is investigating the officers and directors of applied optoelectronics inc. (aaoi) on behalf of shareholders

San diego & sugar land, texas--(business wire)--shareholder rights law firm robbins arroyo llp is investigating whether certain officers and directors of applied optoelectronics, inc. (nasdaqgm: aaoi) breached their fiduciary duties to shareholders. applied optoelectronics designs, manufactures, and sells fiber-optic networking products primarily for internet data center, cable television, and fiber-to-the-home networking end-markets. view this press release on the firm's shareholder rights blog: https://www.robbinsarroyo.com/applied-optoelectronics/. applied optoelectronics accused of hiding loss of business from major customer a securities class action complaint has been filed against applied optoelectronics. the complaint is brought on behalf of all purchasers of applied optoelectronics securities from july 13, 2017 through august 3, 2017, for alleged violations of the securities exchange act of 1934 by applied optoelectronics' officers and directors. according to the complaint, applied optoelectronics officials predicted that the company would deliver another record quarter and that its top and bottom-line results would exceed the company's guidance. despite the company's optimistic projections, applied optoelectronics officials did not disclose that a major customer was reducing its purchases of the company's 40g receivers, which would have a severe negative impact on its financial performance. when the company revealed the bad news on august 3, 2017, applied optoelectronics' stock fell by $33.39 per share, or over 34%, to close at $64.60 per share on august 4, 2017. the stock continues to fall, and is now trading at just $38.68 per share. applied optoelectronics shareholders have legal options concerned shareholders who would like more information about their rights and potential remedies can contact attorney leonid kandinov at (800) 350-6003, lkandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website. robbins arroyo llp is a nationally recognized leader in shareholder rights law. the firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. attorney advertising. past results do not guarantee a similar outcome.
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