NEW YORK, Aug. 14, 2017 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, reminds investors in Applied Optoelectronics, Inc. ("Applied Optoelectronics" or the
"Company") (NASDAQ: AAOI) of the October 4, 2017 deadline to seek the role of lead plaintiff in a
federal securities class action that has been filed against the Company.
If you invested in Applied Optoelectronics stock or options between July 13, 2017 and
August 3, 2017 and would like to discuss your legal rights, click
here: www.faruqilaw.com/AAOI.
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of Texas on
behalf of all those who purchased common stock and/or call options or sold put options of Applied Optoelectronics between
July 13, 2017 and August 3, 2017 (the "Class Period"). The
case, Abouzied v. Applied Optoelectronics, Inc. et al, No. 4:17-cv-02399 was filed on August 5,
2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or
misleading statements and/or failing to disclose that: (1) one of the Company's major customers was reducing its purchases of
Applied Optoelectronics' 40G receivers; (2) the loss of this customer's business would have a severe negative impact on the
Company's financial performance; and (3) as a result, the Company's public statements were materially false and misleading.
Specifically, after market on August 3, 2017, the Company issued a press release announcing the
financial results for the second quarter of 2017. Therein, the Company stated, in part, that for the third quarter of 2017
the Company will "see softer than expected demand for our 40G solutions with one of our large customers that will offset the
sequential growth and increased demand we expect in 100G."
After this announcement, the Company's share price fell from $97.99 per share on August 3, 2017 to a closing price of $64.60 on August 4,
2017 —a $33.39 or a 34.07% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who
is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of
the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Applied Optoelectronics' conduct to contact the
firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome
with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated
in a confidential manner.
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SOURCE Faruqi & Faruqi, LLP