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Tellabas Securities Class Action Lawsuit
By Andrea Gressman
It was recently announced that a securities class action lawsuit was filed against Tellabs Inc. (NASDAQ: TLAB) on the behalf of those who purchased shares of Tellabs between the dates of October 26, 2010 and April 26, 2011. The securities lawsuit charges Tellabs and some its executive officers with violating the federal securities laws.
Tellabs designs, develops and supports telecommunications networking products. According to the class action lawsuit, Tellabs made false statements that misled shareholders, future shareholders and the general public. The securities lawsuit goes on to state that Tellabs failed to disclose facts and information that were negative about the company, including details of its operations, business, and prospects.
The Tellabs securities lawsuit provides specific examples of how this deception occurred. First, the company failed to inform shareholders that they were changing their arrangement with customers regarding how they distribute their products. The lawsuit further explains that Tellabs changed its method of distribution to cover up the fact that Tellabs’ level of business was falling substantially and that they did not represent this accurately to the general public. The securities fraud lawsuit also alleges the company made false statements about how well the company was doing in operations, business, and prospects.
The Tellabs class action lawsuit is seeking compensation for the damages the plaintiffs experienced as a result of these alleged securities violations.
If you or someone you know has invested in Tellabs Inc. or any other company and believe that you have been the victim of a securities fraud, know your legal options. Visit the Securities Fraud, Stock Fraud Investment Class Action Lawsuit Investigation page right away. A qualified stock fraud lawsuit attorney will provide you with a free legal review and get you on your way to receiving the compensation you deserve.
Updated January 27th, 2013
All securities fraud class action and lawsuit news updates are listed in the Stocks & Securities section of Top Class Actions
