Applied Optoelectronics, Inc. (NSADAQ: AAOI) Investor Securities Class Action Lawsuit 10/01/2018

If you purchased a significant amount of shares of Applied Optoelectronics, Inc. (NSADAQ: AAOI) between August 7, 2018 and September 27, 2018, and / or if you purchased any NSADAQ: AAOI shares prior to August 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: November 30, 2018. NSADAQ: AAOI investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Applied Optoelectronics
Case Name: 
Applied Optoelectronics Shareholder Class Action Lawsuit 10/01/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: AAOI
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
10/01/2018
Class Period Begin: 
08/07/2018
Class Period End: 
09/27/2018
Court of Filing: 
U.S. District Court for the Southern District of Texas
Deadline To File for Lead: 
11/30/2018
Summary: 

An investor in shares of Applied Optoelectronics, Inc. (NSADAQ: AAOI) filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by Applied Optoelectronics, Inc. in connection with certain allegedly false and misleading statements made between August 7, 2018 and September 27, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Applied Optoelectronics, Inc. (NSADAQ: AAOI) common shares between August 7, 2018 and September 27, 2018

, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 7, 2018 and September 27, 2018, the defendants failed to disclose to investors that certain of the Company’s lasers were susceptible to fail prematurely, that certain of the Company’s transceivers utilizing these lasers would be materially affected, and that, 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.

Sugar Land, TX based Applied Optoelectronics, Inc. designs, manufactures, and sells various fiber-optic networking products worldwide.

Applied Optoelectronics, Inc. reported that its annual Total Revenue rose from $260.71 million in 2016 to $382.32 million in 2017 and that its Net Income increased from $31.23 million in 2016 to $73.95 million in 2017.

Shares of Applied Optoelectronics, Inc. (NSADAQ: AAOI)grew from $23.56 per share in March 2018 to as high as $49.50 per share in July 2018.

On September 28, 2018, the Company reduced its revenue forecast, citing issues with a customer order, stating “we identified an issue with a small percentage of 25G lasers within a specific customer environment. Consistent with AOI's commitment to supreme product quality and customer support, we mutually agreed with the customer to temporarily suspend shipments of certain transceivers utilizing these lasers while we worked to gain a deeper understanding of the scope of the issue and implement a solution.”

Shares of Applied Optoelectronics, Inc. (NSADAQ: AAOI) declined to as low as $22.15 per share on October 3, 2018.