NEW YORK, Jan. 03, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Ribbon Communications, Inc., Evoqua Water Technologies Corp., and Welbilt, Inc. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Ribbon Communications, Inc. f/k/a Sonus Networks, Inc. (NASDAQ: RBBN)
Class Period: January 8, 2015 - March 24, 2015
Lead Plaintiff Deadline: January 7, 2019
The complaint alleges that defendants knew that the company would fall materially short of its $74 million revenue forecast. Defendants knew that the unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, a fact that senior sales personnel regularly communicated to defendants. Defendants also knew that a number of 2015 sales had been pulled forward to buoy sales numbers in Q4 2014, at management’s express direction, and that the backlog of sales expected to be recognized in early 2015 was significantly lower than usual. Upon disclosure of the company’s poor results, the company’s share price fell significantly in value-thereby injuring investors.
To learn more about the Ribbon class action go to: http://bespc.com/rbbn/.
Evoqua Water Technologies Corp. (NYSE: AQUA)
Class Period: November 6, 2017 - October 30, 2018
Lead Plaintiff Deadline: January 7, 2019
The class action complaint alleges that throughout the Class Period defendants made materially false and misleading statements, and failed to disclose to investors that: (i) Evoqua failed to successfully integrate its prior acquisitions; (ii) Evoqua was experiencing supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project; and (iii) as a result of the foregoing, Evoqua’s public statements were materially false and misleading at all relevant times. The complaint further alleges that investors purchased Evoqua’s common stock at artificially inflated prices during the Class Period and suffered investment losses as a result of the defendants’ conduct.
To learn more about the Evoqua class action go to: https://bespc.com/aqua/.
Welbilt, Inc. (NYSE: WBT)
Class Period: February 24, 2017 and November 2, 2018
Lead Plaintiff Deadline: January 8, 2019
The complaint alleges that throughout the class period Welbilt made materially false and/or misleading statements and/or failed to disclose that: (i) the company lacked effective internal control over financial reporting; (ii) the company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the foregoing, defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
To learn more about the Welbilt class action go to: https://bespc.com/wbt/.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com