LOS ANGELES, Oct. 09, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) announces the continuation of its investigation on behalf of Casa Systems, Inc. (“Casa” or the “Company”) (NASDAQ: CASA) investors concerning the Company and its officers’ possible violations of federal securities laws.
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In December 2017, Casa completed its initial public offering (“IPO”) in which it sold 6.9 million shares at $13 per share.
On August 14, 2018, Casa announced disappointing financial results and lowered its revenue guidance for the year by $50 million.
On this news, the Company’s stock price fell $3.52, or nearly 23%, to close at $12.08 per share on August 15, 2018, thereby injuring investors. Since the IPO, Casa’s stock has traded as low as $5.62 per share, significantly below the $13 offering price.
If you purchased Casa securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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Contacts
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com