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LOS ANGELES, Aug. 22, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Casa Systems, Inc. (“Casa” or “the Company”) (NASDAQ: CASA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Casa touted rapid growth based on new technology innovations in the registration documents for its December 2017 IPO. Despite its positive statements to the market, the Company knew its key customers had entered a “digestion” phase which lowered future spending. Casa announced disappointing earnings on August 14, 2018, lowering revenue guidance by $50 million for the year at the same time.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.