The Gross Law Firm Announces Class Actions on Behalf of Shareholders of ADTN, DBX and AFI

The Gross Law Firm


The Gross Law Firm Announces Class Actions on Behalf of Shareholders of ADTN, DBX and AFI

Tuesday, December 3, 2019 10:45 AM

NEW YORK, NY / ACCESSWIRE / December 3, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

ADTRAN, Inc. (NASDAQ:ADTN)

Investors Affected : February 28, 2019 - October 9, 2019

A class action has commenced on behalf of certain shareholders in ADTRAN, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in the Company's internal control over financial reporting; (2) as a result, certain E&O reserves had been improperly reported; (3) as a result, the Company's financial results for certain periods were misstated; (4) there would be a pause in shipments to the Company's Latin American customer; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/adtran-inc-loss-submission-form/?id=4702&from=1

Dropbox, Inc. (NASDAQGS:DBX)

Investors Affected : on behalf of all persons who purchased Dropbox Class A common stock pursuant or traceable to the registration statement issued in connection with the Company's March 23, 2018 initial public offering.

A class action has commenced on behalf of certain shareholders in Dropbox, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Dropbox had materially overstated its ability to monetize its user base; (2) Dropbox was facing worsening revenue trends, which were negatively impacting the Company at the time of the initial public offering ("IPO"); (3) Dropbox was tracking below its internal revenue and monetization targets at the time of the IPO; and (4) as a result, defendants' statements about Dropbox's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/dropbox-inc-loss-submission-form/?id=4702&from=1

Armstrong Flooring, Inc. (NYSE:AFI)

Investors Affected : March 6, 2018 - November 4, 2019

A class action has commenced on behalf of certain shareholders in Armstrong Flooring, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had engaged in channel stuffing to artificially boost sales; (2) the Company's internal control over inventory levels was not effective; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis

Shareholders may find more information at https://securitiesclasslaw.com/securities/armstrong-flooring-inc-loss-submission-form/?id=4702&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm


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