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Robbins Arroyo LLP Reminder: Casa Systems, Inc. (CASA) Misled Shareholders According to Lawsuit
[July 16, 2019]

Robbins Arroyo LLP Reminder: Casa Systems, Inc. (CASA) Misled Shareholders According to Lawsuit


Shareholder rights law firm Robbins Arroyo LLP reminds investors that a purchaser of Casa Systems, Inc. (NASDAQ: CASA) has filed a class action complaint against the company for alleged violations of the Securities Act of 1933 pursuant to its December 2017 initial public offering ("IPO"). Casa Systems provides customers with software-centric broadband connectivity in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/casa-systems-inc-jul-19/

Casa Systems, Inc. Accused of Misleading Inestors in IPO



According to the complaint, Casa Systems held its initial public offering in December 2017 offering 6,000,000 common shares at $13 per share. Its registration documents stated that new technology initiatives would allow for a compelling market opportunity and touted the fact that these initiatives would prompt Casa Systems to experience continued rapid growth. However, these documents were false and misleading as Casa Systems failed to disclose material information about the state of its customers' spending. In reality, Casa Systems knew its key customers' spending had entered a "digestion" period that mitigated their expenditures. On August 14, 2018, Casa Systems announced disappointing financial results and cut its revenue guidance for the year by $50 million. On this news, Casa Systems stock declined from $15.60 to $12.08, a drop of almost 23%. Since then, Casa System has continued to have disappointing financial results and the stock trades at just $6.59, a decline of 49% from its IPO price.

Casa Systems, Inc. Shareholders Have Legal Options


Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.


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