Acacia Communications, Inc.
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The Pawar Law Group announces it is investigating potential securities claims on behalf of shareholders of Acacia Communications, Inc. (ACIA) resulting from allegations that the Company may have issued materially misleading business information to the investing public.
On May 31, 2017, Acacia disclosed that “the Company has identified a quality issue” affecting “a portion” of several thousand modules manufactured by one of Acacia’s three contract manufacturers, citing as the “root cause of this quality issue…a circuit board cleaning process that has since been eliminated.” On July 14, 2017, Acacia announced preliminary financial and operating results for the quarter ended June 30, 2017, reporting profit and revenue that missed estimates, and revising its current-quarter guidance downward. Acacia stated that its “second-quarter results were adversely affected by the quality issue identified at one of our three contract manufacturers that we announced on May 31.” On this news, shares of Acacia fell $2.62 per share or 6.30% to close at $39.00 per share on July 14, 2017, damaging investors.
Our investigation concerns whether the Company issued false and misleading statements to investors causing investor losses. If you own Company shares and wish to learn how to protect your investment and recover your losses in Company stock, please visit http://pawarlawgroup.com/cases/acacia or contact Vik Pawar at 212-571-0805.
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Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (212) 571-0805
Fax: (212) 571-0938