Science & Technology
Wed, March 23, 2011Tue, March 22, 2011Mon, March 21, 2011Fri, March 18, 2011Thu, March 17, 2011Wed, March 16, 2011Tue, March 15, 2011Mon, March 14, 2011Fri, March 11, 2011Thu, March 10, 2011Wed, March 9, 2011Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Finisar Corporation Common Stock between 12/2
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Published in Science and Technology on Thursday, March 17th 2011 at 9:55 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
DENVER, CO--(Marketwire - March 17, 2011) - Dyer & Berens LLP ([ www.DyerBerens.com ]) today announced that it has filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of investors who purchased or otherwise acquired Finisar Corporation ("Finisar" or the "Company") (
What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than May 16, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at [ jeff@dyerberens.com ]. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member.
What are the allegations in the complaint? The complaint charges that, throughout the Class Period, defendants' public statements were materially false and misleading. Specifically, the complaint alleges that: (a) Finisar's recent revenue surge was not due solely to organic growth from real end-market demand, but rather it was partially due to an inventory build by the Company's customers; (b) Finisar was experiencing increasing pricing pressures due to intense competition in the industry and, as a result, it was forced to concede to steep discounts in order to retain certain of its customers; (c) Finisar was experiencing a serious slowdown in business from China, which would have a detrimental effect on the Company's ability to continue growing at unprecedented rates; and (d) Finisar failed to disclose known trends and uncertainties as required by SEC regulations concerning its revenue growth rate. Based upon the foregoing, the complaint charges Finisar and certain of its officers and directors with violations of the Securities Exchange Act of 1934.
About Dyer & Berens LLP. The plaintiff is represented by several law firms, including Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.
