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Tellabs Inc (NASDAQ: TLAB) Investor Securities Class Action Lawsuit 01/23/2013

  • If you purchased shares of Tellabs Inc (NASDAQ: TLAB), you might have certain options and should contact the Shareholders Foundation, Inc.

  • 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

Case Dismissed
Company
Tellabs Inc.
Security
NASDAQ: TLAB

Case Name
Tellabs Shareholder Class Action Lawsuit 01/23/2013
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of Illinois

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

February 9, 2015 - The court granted the defendants' motion to dismiss with prejudice.
August 11, 2014 - The defendants filed a motion to dismss.

June 16, 2014 - The court granted the defendants' motion to dismiss without prejudice and granted lead plaintiffs leave to amend.

July 24, 2013 - The defendants filed a motion to dismiss.

June 3, 2013 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased Tellabs Inc (NASDAQ: TLAB) common shares between June 9, 2010 and April 26, 2011. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between June 9, 2010 and April 26, 2011.

April 2, 2013 - The lead plaintiffs and lead counsel were appointed.

March 25, 2013 - A lead plaintiff motion was filed.

March 5, 2013 - All cases were consolidated.

January 23, 2013 - An investor in shares of Tellabs Inc (NASDAQ: TLAB) filed a lawsuit in the U.S. District Court for the Northern District of Illinois against Tellabs Inc over alleged violations of Federal Securities Laws in connection certain allegedly false and misleading statements made between October 26, 2010 and April 26, 2011.

According to the complaint the plaintiff alleges on on behalf of all purchasers of the securities of Tellabs Inc (NASDAQ: TLAB) that Tellabs Inc and certain of its executive officers violated the Securities Exchange Act of 1934 by issuing between October 26, 2010 and April 26, 2011 allegedly false and/or misleading statements, as well as allegedly failing to disclose between October 26, 2010 and April 26, 2011 material adverse facts about Tellabs Inc’s business, operations and prospects.

Tellabs Inc (NASDAQ: TLAB) reported that its Total Revenue fell from over $41.64 billion for the 12 months period that ended on Dec. 31, 2010 to over $1.28 billion for the 12 months period that ended on December 30, 2011 and that its Net Income of $155.60 million for the 12 months period that ended on December 31, 2010 declined to a Net Loss of $188.40 million for the 12 months period that ended on December 30, 2011.

Shares of Tellabs Inc (NASDAQ: TLAB) traded in October 2010 as high as $7.84 per share.

On January 25, 2011 Tellabs Inc announced its financial results for the fourth quarter of 2010.

Then on April 26, 2011, Tellabs Inc announced its financial results for the first quarter of 2011.

Shares of Tellabs Inc (NASDAQ: TLAB) declined in August 2011 to as low as $3.69 per share.

On January 23, 2013, Tellabs Inc (NASDAQ: TLAB) shares closed at $2.28 per share.