Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against DZS Inc. (“DZS” or “the Company) (NASDAQ: DZS) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired DZS securities from March 10, 2023, through May 31, 2023 (the “Class Period”). Investors who acquired DZS securities during this defined timeframe are strongly encouraged to participate in this case by contacting atara@twerskylawgroup.com. The deadline to file a motion for appointment of lead plaintiff is August 14, 2023.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased DZS securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST DZS
According to the lawsuit filed against DZS, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) DZS financial statements from March 31, 2023 to the present contained certain errors; (2) as a result, DZS would need to restate its previously filed quarterly financial statement for the period ending March 31, 2023; (3) the Company had ongoing undisclosed issues with its internal controls over financial reporting; and (4) as a result, Defendants statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that DZS investors suffered damages.
ABOUT DZS
What does DZS stand for?
- DZS is an acronym for Dasan Zhone Solutions, which represents the company’s focus on providing comprehensive networking solutions to its customers.
What does DZS do?
- DZS Inc., also known as Dasan Zhone Solutions, is a company that provides innovative network solutions for service providers and enterprises worldwide. They specialize in the design, development, and deployment of advanced communications systems, including broadband access, mobile backhaul, Ethernet switching, passive optical LAN, and software-defined networking.
- Formerly known as DASAN Zhone Solutions, the company has a history that dates back to the late 1990s. It was formed through the merger of DASAN Networks and Zhone Technologies in 2003, combining their expertise in broadband access and advanced communications equipment. Over the years, DZS Inc. has expanded its product offerings. It has introduced various technologies such as passive optical LAN, Ethernet switching, and mobile backhaul solutions. In 2016, the company rebranded as DASAN Zhone Solutions, emphasizing its commitment to comprehensive networking solutions and offering these solutions to the public. Finally, in 2020, the company simplified its name to DZS Inc. to make things simpler while still continuing to deliver innovative network solutions to service providers and enterprises worldwide.
Where is the DZS headquarters and how many employees does it have?
- DZS maintains its headquarters in Plano, Texas (United States). The company currently has roughly around 840 employees.
Who are the competitors of DZS?
- The competitors of DZS Inc. vary depending on the specific market segment. The technology industry can be very competitive, especially in light of the current race to discover new technologies. Some notable competitors in the telecommunications and networking industry include Cisco Systems Inc., Juniper Networks Inc., Nokia Corporation, Huawei Technologies Co. Ltd., and ADTRAN Inc.
What is the annual revenue of DZS?
- According to DZS Inc’s latest financial reports the company’s current revenue (TTM) is $0.38 Billion. In 2022 the company made a revenue of $0.37 B an increase over the years 2021 revenue that were of $0.35 Billion. The revenue is the total amount of income that a company generates by the sale of goods or services. Unlike with the earnings no expenses are subtracted.
JOIN THIS CASE
It is crucial to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in DZS during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is August 14, 2023. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group is a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations, such as in this current case. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.
Investors who believe they may qualify as potential class members in the class action lawsuit against DZS Inc. are strongly encouraged to reach out directly to the firm for further information and assistance. The knowledgeable legal professionals at Twersky Law Group stand ready to provide guidance and support to investors seeking to protect their rights and pursue the recovery they deserve.
ABOUT US
For more information as well as to join this case please contact Atara Twersky, Esq. at atara@twerskylawgroup.com. Atara is Principal at Twersky Law Group and of counsel at AF&T Law Firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their investment portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries, listen to Atara ’s Pension and Investments Podcast with notable guests in the pension fund Industry that discusses various matters relating to investment portfolios. For more information on Atara and her legal work pertaining to shareholder protection click here.
Sources:
DZS revenue: https://companiesmarketcap.com/dzs-inc/revenue/#:~:text=According%20to%20DZS%20Inc’s%20latest,sale%20of%20goods%20or%20services.
