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Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against A10 Networks, Inc.

Oklahoma City, OK (March 30, 2018) – On March 22, 2018, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against A10 Networks, Inc. (NYSE: ATEN).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 9, 2016 through January 30, 2018.  More specifically, this litigation was filed because defendants made false and/or misleading statements and/or failed to disclose that: (1) A10 Networks had issues with its internal controls that required an Audit Committee investigation; (2) A10 Networks’ revenues since the fourth quarter of 2015 were false due to improper revenue recognition which prompted an investigation by the Company’s Audit Committee; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On January 16, 2018 A10 Networks announced that it expected total revenue in 4Q 2017 to be between $55 and $56 million, below its prior guidance of $64 million to $67 million. A10 attributed the disappointing results to a shortfall in sales and low demand. In addition, on January 30, 2018, A10 revealed that its Audit Committee was investigating the company’s revenue recognition practices for 4Q 2015 through 4Q 2017 because an employee had violated the company’s Insider Trading Policy and Code of Conduct. On this news of A10’s financial condition became widely known, A10 stock has fallen to close at $6.13 per share on January 31, 2018.

Plaintiff seeks to recover damages on behalf of all A10 Networks, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Monday, May 21, 2018 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification.  Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN:  Robin.

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