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Robbins Geller Rudman & Dowd LLP Files Class Action Suit against CommScope, Inc.

^{Published on 2010-05-12 12:10:12 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Robbins Geller Rudman & Dowd LLP (aRobbins Gellera) ([ http://www.rgrdlaw.com/cases/commscope/ ]) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Western District of North Carolina on behalf of purchasers of the common stock of CommScope, Inc. (aCommScopea or the aCompanya) (NYSE:CTV) between April 29, 2008 and October 30, 2008, inclusive (the aClass Perioda), seeking to pursue remedies under the Securities Exchange Act of 1934 (the aExchange Acta).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffa™s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900, or via e-mail at [ djr@rgrdlaw.com ]. If you are a member of this Class, you can view a copy of the complaint as filed or join this class action online at [ http://www.rgrdlaw.com/cases/commscope/ ]. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges CommScope and certain of its officers and executives with violations of the Exchange Act. CommScope provides infrastructure solutions for communication networks worldwide.

The complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Companya™s true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose: (i) that the Company was experiencing weaker demand for its cabinet and apparatus products by certain telecommunication service providers; (ii) that the Companya™s distributors were working off existing inventory and not re-stocking the Companya™s products; and (iii) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On October 30, 2008, the Company announced its financial results for the third quarter of 2008, the period ended September 30, 2008. In response to the earnings announcement and the Companya™s reduced outlook for the fourth quarter and full year 2008, on October 31, 2008, shares of the Companya™s stock fell $5.48 per share, or 27%, to close at $14.71 per share, on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of all purchasers of the common stock of CommScope during the Class Period (the aClassa). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site ([ http://www.rgrdlaw.com ]) has more information about the firm.