Juniper Networks, Inc is in some trouble over complaints that the firm made false and misleading statements in violation of the Securities Exchange Act of 1934 and other securities laws. The Juniper Networks Securities Class Action Lawsuit Complaint claims that Juniper failed to disclose negative business reporting trends and made false statements about the financial well being of the firm.
The case is under the jursidcition of the United States District Court for the Northern District of California and includes all Juniper Networks and certain Juniper Networks officers and directors.
The crux of the lawsuit complaint revolves around the fact that investors were not informed that (a) Juniper was allegedly losing market share in its security business to its competitors due to technical issues with certain products and turnover in its sales force; (b) Juniper was allegedly forced to dramatically lower prices, which was having a material adverse effect on Juniper’s margins; (c) Juniper’s new product launches allegedly would not meaningfully contribute to Juniper’s operations until 2012.
Class members of the Juniper Networks Securities Class Action Lawsuit Complaint include persons who purchased Juniper Networks stock (ticker symbol JNPR) between the dates of July 20, 2010 and July 26, 2011.
