BOSTON, MA / ACCESSWIRE / July 17, 2019 / Shareholders of Casa Systems, Inc. (NASDAQ: CASA) are notified that the Thornton Law Firm LLP is investigating a securities class action lawsuit filed on behalf of shareholders of Casa Systems. Investors who purchased shares of CASA between December 2017 and June 2018 are encouraged to contact the Thornton Law Firm at [email protected], or call 617-531-3917 to discuss their rights.
A lawsuit filed against Casa and certain underwriters that participated in Casa's IPO alleges that Casa’s registration documents in connection with its IPO failed to disclose material information concerning the state of Casa's customers' spending and the Company’s operations and finances. Specifically, it is alleged that Casa failed to disclose that customers were shifting from hardware purchases to software-based capacity expansions, and that its key projects were in a digestion period. It is alleged that as the true state of Casa’s customer spending the Company’s operations were disclosed, Casa’s shares have dropped by nearly 50%, declining to under $7.00 a share.
Any interested Casa shareholders who purchased CASA stock between December 2017 and June 2018 are encouraged to contact the Thornton Law Firm at [email protected], or call 617-531-3917. The Thornton Law Firm’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE: Thornton Law Firm LLP