California-based Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating potential violations of the federal securities laws by
Ooma, Inc. (NYSE: OOMA) and certain of its officers and directors.
California-based Ooma provides cloud-based telephone and connected
services.
Specifically, Johnson & Weaver’s investigation seeks to determine
whether the Company’s filings with the U.S. Securities and Exchange
Commission in connection with its July 17, 2015 initial public stock
offering (the “IPO”) contained untrue statements of material facts or
omitted to state other facts necessary to make the statements made
therein not misleading concerning the true state of the Company’s
business metrics and financial prospects at the time of its IPO.
On July 17, 2015, Ooma offered 5,000,000 shares of its common stock at
$13.00 per share in connection with its IPO. Less than six months later,
Ooma common stock has plummeted and was trading at just $5.83 per share
during intra-day trading on January 6, 2016 – 55% less than its IPO
price.
If you have information that could assist in this investigation, or
if you are a Ooma shareholder and are interested in learning more about
the investigation or your legal rights and remedies, please contact
Michael I. Fistel, Jr., Esq. (michaelf@johnsonandweaver.com)
by email or by phone at 770-200-3104. If emailing, please include a
phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California, New York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more information
about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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