Law Offices of Howard G. Smith announces that investors of Tellabs, Inc. (“Tellabs” or the “Company”) (NASDAQ:TLAB) have until March 25, 2013 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Northern District of Illinois on behalf of a class (the “Class”) comprising all purchasers of the securities of Tellabs between October 26, 2010 and April 26, 2011, inclusive (the “Class Period”). Tellabs designs, develops and supports telecommunications networking products for communication service providers in the United States and internationally.
The Complaint alleges that throughout the Class Period the defendants made false and misleading statements and/or failed to disclose material adverse facts about Tellabs’ business, operations and prospects. Specifically, defendants misrepresented and/or failed to disclose that: (a) in the fourth quarter of 2010, the Company was changing its distribution arrangement with a customer; (b) this change to the distribution arrangement masked that Tellabs’ business was declining substantially faster than the Company had represented to the public; (c) the Company's North American business was slowing at a greater rate than the Company had represented to the public; and (d) as a result of the above, the defendants’ positive statements about the Company's business, operations and prospects lacked a reasonable basis.
If you are a member of the Class described above, you have certain rights, and have until March 25, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or learn more concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
Howard G. Smith, Esquire
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