Cisco Systems CSCO Securities Purchasers File Class Action Lawsuit Against Cisco Over Alleged Securities Law Violations.
A securities fraud class action lawsuit has been filed against Cisco Systems, Inc. (“Cisco”) and certain Cisco officers and directors (collectively “Defendants”) in the United States District Court for the Northern District of California on behalf of a class consisting of purchasers of Cisco’s (NASDAQ symbol: CSCO) common stock from May 12, 2010 through and including February 9, 2011 (the “Class Period”), alleging that Cisco and certain of its officers and directors violated federal securities fraud laws, including the Securities Exchange Act of 1934, by allegedly failing to disclose, among other things, that Cisco was allegedly facing intense pricing pressure for its products from its more traditional competitors and emerging Chinese competitors and that it was forced to dramatically lower prices, according to Cisco securities fraud class action lawsuit news reports.
If You Have Thoughts On The Cisco Systems CSCO Securities Fraud Class Action Lawsuit, Share Your Class Action Comments Below.