NEW YORK, Nov. 13, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Ribbon Communications, Inc. ("Ribbon" or the "Company") (NASDAQ: RBBN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Ribbon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 24, 2015, Ribbon issued a press release announcing that it expected revenue for the first quarter of 2015 in the range of $47-$50 million, significantly lower than the Company's previous projection of $74 million. The Company advised investors that they would suffer a $029-$0.34 loss in non-GAAP earnings-per-share ("EPS"), rather than the previously projected non-GAAP EPS gain of $0.03.
On this news, the Company's stock price fell $4.46 per share, or more than 33%, to close at $8.70 on March 24, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP