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You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of November 19, 2020 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
November 25, 2020 - The court granted final approval of the settlement.
August 25, 2020 - The court preliminarily approved the settlement.
August 3, 2020 - A stipulation and agreement of settlement was entered by the parties.
May 24, 2019 - A second consolidated amended complaint was filed.
March 27, 2019 - The court denied the defendants' motion to dismiss.
April 4, 2018 - A motion to dismiss the amended consolidated complaint was filed.
March 6, 2018 - An amended consolidated complaint was filed.
August 5, 2017 - An investor in shares of Applied Optoelectronics Inc (NASDAQ: 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 July 13, 2017 through August 3, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of Applied Optoelectronics Inc (NASDAQ: AAOI) common shares between July 13, 2017 through August 3, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 13, 2017 through August 3, 2017, the defendants made false and/or misleading statements and/or failed to disclose that a major customer was reducing its purchases of the Company’s 40G receivers, that the loss of this major customer’s business would have a severe negative impact on the Company’s financial performance, and that as a result, the Company’s public statements were materially false and misleading at all relevant times. Sugar Land, TX based Applied Optoelectronics Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). Applied Optoelectronics Inc reported that its annual Total Revenue rose from $189.90 million in 2015 to $260.71 million in 2016 and that its Net Income increased from $10.79 million in 2015 to $31.23 million in 2016. On August 3, 2017, Applied Optoelectronics Inc revealed during after-hours trading that it expected its revenue for the third quarter in the range of $107 to $115 million due to the slowdown in purchasing by one of its large customers, missing expectations by a wide margin. Shares of Applied Optoelectronics Inc (NASDAQ: AAOI) declined on August 4, 2017 to as low at $64.40 per share.