The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of DZS Inc. (NASDAQ: DZSI) who purchased securities between August 2, 2022 and June 1, 2023. The action, which was filed in the United States District Court for the Eastern District of Texas, alleges that the Company violated federal securities laws.
In particular, the DZS lawsuit alleges that (1) DZS’ financial statements from March 31, 2023 to the present included 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.
Shareholders have until August 14, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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