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If you purchased shares of Powerwave Technologies Inc (NASDAQ: PWAV), you might have certain options and should contact 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
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July 11, 2016 - The court approved the settlement.
December 4, 2015 - The court preliminarily approved the settlement.
October 30, 2015 - Parties filed a stipulation of settlement.
October 23, 2013 - The court denied the defendants’ motion to dismiss.
July 22, 2013 - Defendants filed a motion to dismiss.
June 14, 2013 - Lead plaintiff filed an amended consolidated complaint.
May 16, 2013 - The court granted defendants' motion to dismiss with leave to amend the complaint.
March 15, 2013 - Defendants filed a motion to dismiss.
February 26, 2013 - Lead plaintiff filed a corrected amended consolidated complaint.
February 14, 2013 - Lead plaintiff filed an amended consolidated complaint.
January 25, 2013 - The court granted defendants' motion to dismiss with leave to amend the complaint.
September 21, 2012 - Defendants filed a motion to dismiss.
July 23, 2012 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased Powerwave Technologies Inc common shares between October 28, 2010 and October 18, 2011. The plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between October 28, 2010 and October 18, 2011.
April 26, 2012 - Lead plaintiff and lead counsel were appointed.
April 9, 2012 - Lead plaintiff motions were filed.
February 9, 2012 - An investor in shares of Powerwave Technologies Inc (NASDAQ: PWAV) filed a lawsuit in the U.S. District Court for the Central District of California against Powerwave Technologies Inc over alleged Violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 1, 2011 and October 18, 2011.
According to the complaint the plaintiff alleges on behalf of purchasers of the common stock of Powerwave Technologies Inc (NASDAQ: PWAV) between February 1, 2011 and October 18, 2011, that Powerwave Technologies Inc and certain of its officers and directors violated the Securities Exchange Act of 1934. Specifically, the plaintiff claims that between February 1, 2011 and October 18, 2011 defendants issued materially false and misleading statements regarding Powerwave Technologies Inc’s business and prospects.
Powerwave Technologies Inc reported that after its Total Revenue fell from $890 million for its Fiscal Year ending on December 28, 2008 to $567 million for its Fiscal Year ending on January 3, 2010 its Revenue increased from $567 million to $591 million in the Fiscal Year ending on January 2, 2011. Despite at overall decrease in Revenue Powerwave Technologies Inc reported that its Net Loss of $362 million for the fiscal year ending on December 28, 2008 turned into a Net Income for its fiscal year ending on January 2, 2011.
On November 8, 2011, Powerwave Technologies Inc reported that its three months Revenue fell from $156 million for a three months period ending on October 3, 2010 to $77 million for the three months period ending on October 2, 2011, further Powerwave Technologies Inc reported that its nine months Revenue fell from $415 million for a nine months period ending on Oct. 3, 2010 to $384 million for its nine months period ending on October 2, 2011.
Powerwave Technologies Inc (NASDAQ: PWAV) shares fell since its 1:5 split on October 31, 2011 to as low as $1.71 in January 2012.