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Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Ribbon Communications, Inc. f/k/a Sonus Networks, Inc.

To join this class action, please complete the following Investor Certification. 


Ribbon Communications, Inc. f/k/a Sonus Networks, Inc.

Plaintiff Certifies That:

The following information is true and correct to the best of my knowledge, information and belief:

1. I have reviewed the Complaint in this action and authorize the filing of this Certification as an exhibit to the Complaint, or any substantively similar complaint or amended complaint to be filed in the future. I retain the law office of Federman & Sherwood, and any other counsel with whom Federman & Sherwood deems appropriate to associate with, to pursue this action on my behalf on a contingency fee basis.

2. If chosen, I am willing to serve as a representative party on behalf of the class (the “Class”), either individually or as part of a group on behalf of the Class as defined in the Complaint, including providing testimony at deposition or trial (if necessary). I am also willing to participate on an executive committee of shareholders.

3. I made the following transaction(s) during the Class Period in Ribbon Communications, Inc. f/k/a Sonus Networks, Inc. securities (which are the subject of this action) as follows:


4. I did not purchase these securities at the direction of my attorney or in order to participate in a lawsuit under the Securities Act of 1933 or the Securities Exchange Act of 1934.

5. During the 3-year period preceding the date of this Certification, I have not sought to serve, nor have I served, as a representative to any party or on behalf of any class in any action arising under the Securities Act of 1933 or the Securities Exchange Act of 1934.

6. I will not accept any payment if chosen to serve as a representative party on behalf of the Class beyond my pro rata share of an award to the Class, or as otherwise ordered and approved by the Court, except for such reasonable costs and expenses directly relating to my service as a representative of the Class and as ordered and approved by the Court.












By clicking on the button below, I intend to sign and execute this agreement and retain Federman & Sherwood to proceed on Plaintiff’s behalf on a contingency basis.

Oklahoma City, OK (November 9, 2018) – On November 8, 2018, a securities class action lawsuit was filed in the United States District Court for the District of Massachusetts against Ribbon Communications, Inc. f/k/a Sonus Networks, Inc. (NASDAQ: RBBN).  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 January 8, 2015 through March 24, 2015.  More specifically, the complaint alleges that Defendants knew that Sonus Networks, Inc. would fall materially short of its $74 million revenue forecast.  Sonus knew that the unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, a fact that senior sales personnel regularly communicated to Defendants.  Defendants also knew that a 2015 sales had been “pulled forward” to buoy sales numbers in the fourth quarter of 201, at management’s express direction, and that the “backlog” of sales expected to be recognized in early 2015 was significantly lower than usual. 

On August 7, 2018, the SEC issued a press release and the SEC Order, stating that the SEC had charged Ribbon, Greenquist and Swade with making material misstatements on January 8, 2015 and February 18, 2015 concerning Sonus’s quarterly revenue estimates and guidance for Q1 2015.

Plaintiff seeks to recover damages on behalf of all Ribbon Communications, Inc. f/k/a Sonus 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, January 7, 2019 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.

If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:  Robin Hester at rkh@federmanlaw.com

 

 

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