CommScope Stock Purchasers File Securities Fraud Class Action Lawsuit Against CommScope Over Alleged False and Misleading Statements About Demand for CommScope Cabinet and Apparatus Products.
A securities fraud class action lawsuit was filed against CommScope, Inc. (CTV) on behalf of a class consisting of all those who purchased the common stock of CommScope between April 29, 2008 and October 30, 2008, inclusive, and who were damaged thereby (the “Class”) in the United States District Court for the Western District of North Carolina (Case No. 5:10-CV-62), alleging that CommScope violated federal securities laws by issuing false and misleading financial information to investors, according to class action lawsuit news reports.
The CommScope securities fraud class action complaint reportedly alleges that CommScope violated the Securities Exchange Act of 1934 by, among other things, failing to disclose that:
- CommScope was experiencing weaker demand for its cabinet and
apparatus products by certain telecommunication service providers; - CommScope’s distributors were working off existing inventory and not re-stocking CommScope’s products;
- CommScope lacked a reasonable basis for their positive statements about CommScope and its prospects.
For more information on the CommScope securities fraud class action lawsuit, read the CommScope securities class action complaint.
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