SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Lumentum Holdings Inc. - LITE
NEW YORK, April 18, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Lumentum Holdings Inc. ("Lumentum" or the "Company") (NASDAQ: LITE). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Lumentum and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 6, 2023, Lumentum preannounced preliminary financial results for its third fiscal quarter, predicting revenue that fell well below the Company's former guidance. Following Lumentum's announcement, the investment firm Rosenblatt downgraded the Company to neutral from buy, noting that a large customer of Lumentum had pushed out shipments for inventory management purposes faster than expected.
On this news, Lumentum's stock price fell $4.98 per share, or 9.71%, to close at $46.33 per share on April 6, 2023.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
