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Juniper Networks Inc (NYSE: JNPR) Investor Securities Class Action Lawsuit 08/12/2013

  • If you purchased shares of Juniper Networks Inc (NYSE: JNPR), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Company
Juniper Networks, Inc.
Security
NYSE: JNPR

Case Name
Juniper Networks Shareholder Class Action Lawsuit 08/12/2013
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

January 23, 2014 - The court ordered the case dismissed without prejudice.
January 9, 2014 - The lead plaintiff filed a notice of voluntary dismissal without prejudice.

November 12, 2013 - Lead plaintiff and lead counsel were appointed.

August 12, 2013 - An investor in shares of Juniper Networks Inc (NYSE: JNPR), filed a lawsuit in the U.S. District Court for the Northern District of California against Juniper Networks Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 24, 2012 and August 8, 2013.

According to the complaint the plaintiff alleges on behalf of purchasers Juniper Networks Inc (NYSE: JNPR) common stock during the period between April 24, 2012 and August 8, 2013, that Juniper Networks Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff alleges that defendants made false and/or misleading statements and/or failed to disclose that Juniper Networks Inc was in violation of the U.S. Foreign Corrupt Practices Act ( FCPA ), that Juniper Networks Inc lacked effective internal controls over financial reporting, and that as a result of the foregoing, Juniper Networks Inc's statements were materially false and misleading at all relevant times.

Juniper Networks Inc reported that its annual Total Revenue declined from over $4.44 billion in 2011 to over $4.36 billion in 2012 and that its respective Net Income declined from $425.14 million to $186.50 million. Shares of Juniper Networks Inc (NYSE: JNPR) traded in 2011 as high as $44.11 per share and in July 2012 as low as $14.50 per share. Juniper Networks Inc (NYSE: JNPR) shares regained some value and rose in January 2013 to $22.57, respectively $22.18 per share on August 8, 2013.

Then on August 8, 2103, Juniper Networks Inc disclosed that the U.S. Securities and Exchange Commission and the U.S. Department of Justice are conducting investigations into possible violations by the Company of the U.S. Foreign Corrupt Practices Act.

Shares of Juniper Networks Inc (NYSE: JNPR) declined from $22.18 on August 8, 2013 to $20.46 on August 12, 2013.