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SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Acacia Communications, Inc. (ACIA)
NEW YORK, July 14, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Acacia Communications, Inc. ("Acacia" or the "Company") (NASDAQ: ACIA). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/acia.
The investigation concerns whether Acacia and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On May 31, 2017, Acacia announced that "the Company has identified a quality issue" impacting "a portion" of several thousand modules manufactured by one of Acacia's three contract manufacturers, citing as the "root cause of this quality issue . . . a circuit board cleaning process that has since been eliminated." On July 14, 2017, Acacia revealed its preliminary financial and operating results for the quarter ended June 30, 2017, reporting that its profit and revenue were short of projections, and the Company revised its current-quarter guidance downward. Acacia stated that its "second-quarter results were adversely affected by the quality issue identified at one of our three contract manufacturers that we announced on May 31". Following this news, Acacia stock has dropped as much as $2.37, or 5.69%, during intraday trading on July 14, 2017. If you are aware of any facts relating to this investigation, or purchased Acacia shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/acia. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes. Contact:
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