Shareholder alert: robbins arroyo llp announces another complaint filed against casa systems, inc. (casa)
San diego & andover, mass.--(business wire)--shareholder rights law firm robbins arroyo llp announces that a purchaser of casa systems, inc. (nasdaq: casa) has filed a class action complaint against the company for alleged violations of the securities act of 1933 pursuant to its december 2017 initial public offering ("ipo"). casa systems provides customers with software-centric broadband connectivity in north america, latin america, the asia-pacific, europe, the middle east, and africa. if you suffered a loss as a result of casa systems' misconduct, click here. casa systems, inc. (casa) accused of misleading investors in ipo according to the complaint, casa systems held its initial public offering in december 2017 offering 6,000,000 common shares at $13 per share. its registration documents stated that its core ccap products and new technology initiatives would allow for a compelling market opportunity and touted the fact that these initiatives would prompt casa systems to experience continued rapid growth. however, these documents were false and misleading as casa systems failed to disclose material information about the state of its customers' spending. in reality, casa systems knew its key customers' spending had entered a "digestion" period that curtailed any new product purchases. on august 14, 2018, casa systems announced disappointing financial results and cut its revenue guidance for the year by $50 million. on this news, casa systems stock declined from $15.60 to $12.08, a drop of almost 23%. since then, casa systems has continued to have disappointing financial results and the stock now trades at just $6.56, a decline of 49% from its ipo price. casa systems, inc. (casa) shareholders have legal options contact us to learn more: leo kandinov (800) 350-6003 lkandinov@robbinsarroyo.com shareholder information form 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.
CASA Ratings Summary
CASA Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission