IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Arlo Technologies, Inc. ...
February 22 2019 - 6:50PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against Arlo
Technologies, Inc. (“Arlo” or “the Company”) (NYSE: ARLO) for
violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities
and Exchange Commission.
Investors who purchased the Company’s shares pursuant or
traceable to Arlo’s Registration Statement and Prospectus
(collectively, the “Registration Statement”) issued in connection
with Arlo’s August 3, 2018 Initial Public Offering (“IPO”), are
encouraged to contact the firm before March 25, 2019.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm’s website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, the Company made false and
misleading statements to the market. Arlo’s new battery for the
Company’s Ultra camera systems suffered from flaws and quality
issues. These problems resulted in a shipping delay in the Ultra
cameras. The delays endangered Arlo’s product from reaching the
market for the holiday season, and allowed competitors to
capitalize on the issue, gaining market share from the Company. At
the same time, Arlo’s customers experienced problems with the
product including excessive battery drain. The battery issues were
likely to negatively impact the fourth quarter 2018 financial
results. Based on these facts, the Company’s Registration Statement
was false and materially misleading. When the market learned the
truth about Arlo, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
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version on businesswire.com: https://www.businesswire.com/news/home/20190222005543/en/
The Schall Law FirmBrian Schall, Esq.,Sherin Mahdavian,
Esq.,www.schallfirm.comOffice: 310-301-3335Cell:
424-303-1964info@schallfirm.com
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