| Company: | Allot Communications Ltd. |
| Ticker Symbol: | NASD: ALLT |
| Initial Public Offering: | November 15, 2006 |
| Date Filed: | May-02-07 |
| Lead Plaintiff Deadline: | Jul-03-07 |
| Court: | Southern District, NY |
| Allegations: |
Shareholders of Allot Communications Ltd. ("Allot" or the "Company") (NASDAQ: ALLT) who purchased shares of the Company in connection with its November 15, 2006 Initial Public Offering ("IPO") or who purchased shares thereafter in the open market, have until July 2, 2007 to move for appointment as Lead Plaintiff in a securities class action lawsuit currently pending in the United States District Court for the Southern District of New York.
Allot and certain officers, directors and underwriters are charged with including false and misleading statements in the registration statement and proxy-prospectus issued in connection with the IPO in direct violation of the Securities Act of 1933. Specifically, defendants each failed to reveal, at that time of the IPO, that Allot was experiencing declining sales in its indirect distribution channels, including enterprise, education and smaller ISP customers, in North America.
It was only on April 2, 2007, that Allot revealed the truth about the company, when it issued a press release announcing that revenues and earnings for the first quarter of 2007 and the 2007 fiscal year would be lower than previous guidance issued only two months ago. In response to this news, Allot stock fell dramatically on heavy volume, declining from $9.15 per share to $7.11 per share on April 2, 2007 -- approximately 40% below the IPO price.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Allot and certain officers, directors and underwriters are charged with including false and misleading statements in the registration statement and proxy-prospectus issued in connection with the IPO in direct violation of the Securities Act of 1933. Specifically, defendants each failed to reveal, at that time of the IPO, that Allot was experiencing declining sales in its indirect distribution channels, including enterprise, education and smaller ISP customers, in North America.
It was only on April 2, 2007, that Allot revealed the truth about the company, when it issued a press release announcing that revenues and earnings for the first quarter of 2007 and the 2007 fiscal year would be lower than previous guidance issued only two months ago. In response to this news, Allot stock fell dramatically on heavy volume, declining from $9.15 per share to $7.11 per share on April 2, 2007 -- approximately 40% below the IPO price.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
