Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Tellabs, Inc.
Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the Northern District
of Illinois on behalf of a class composed of all purchasers of the
securities of Tellabs, Inc. (“Tellabs” or the “Company”) (NASDAQ:TLAB)
between October 26, 2010 and April 26, 2011, inclusive (the “Class
Period”).
Tellabs designs, develops and supports telecommunications networking
products for communication service providers in the United States and
internationally. The Complaint alleges that throughout the Class Period
the defendants made false and misleading statements and/or failed to
disclose material adverse facts about Tellabs’ business, operations and
prospects. Specifically, defendants misrepresented and/or failed to
disclose that: (a) in the fourth quarter of 2010, the Company was
changing its distribution arrangement with a customer; (b) this change
to the distribution arrangement masked that Tellabs’ business was
declining substantially faster than the Company had represented to the
public; (c) the Company's North American business was slowing at a
greater rate than the Company had represented to the public; and (d) as
a result of the above, the defendants' positive statements about the
Company's business, operations and prospects lacked a reasonable basis.
No class has yet been certified in this action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased Tellabs securities during the Class Period, you have
certain rights, and have until March 25, 2013 to move for lead plaintiff
status. To be a member of the class you need not take any action at this
time, and you may retain counsel of your choice. If you wish to discuss
this action or have any questions concerning this Notice or your rights
or interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.