Acacia Communications Says Stock Drop Was A Surprise

Law360 (February 12, 2018, 3:37 PM EST) -- Acacia Communications Inc. on Friday asked a Massachusetts federal judge to toss a proposed shareholder class action over poor second-quarter results in 2017, arguing its optimistic outlook was soured by an unexpected drop in market demand and that a contractor’s manufacture of defective products had nothing to do with the company’s stock tumble.

The Massachusetts-based communications company, which provides high-speed optical interconnects, says its earnings decline last year came as a surprise to management and was fueled by decreased demand from its largest customer. The company...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.