| Company: | CommScope Inc, |
| Ticker Symbol: | CTV |
| Class Period: | Apr-29-08 to Oct-30-08 |
| Date Filed: | May-27-10 |
| Lead Plaintiff Deadline: | Jul-26-10 |
| Court: | Western District of North Carolina |
| Allegations: | |
The Complaint charges that CommScope, a provider of infrastructure solutions for communication networks worldwide, and certain of its officers and executives violated federal securities laws. Specifically, it is alleged that defendants failed to disclose the following material adverse facts about the Company's true financial condition and prospects: (i) that CommScope was experiencing weaker demand for its cabinet and apparatus products by certain telecommunication service providers; (ii) that the Company's distributors were working off existing inventory and not re-stocking the Company's products; and (iii) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about CommScope and its prospects.
On October 30, 2008, CommScope announced its financial results for the third quarter of 2008, the period ended September 30, 2008. In response to the earnings announcement and the Company's reduced outlook for the fourth quarter and full year 2008, on October 31, 2008, shares of the Company's stock fell $5.48 per share, or 27%, to close at $14.71 per share.
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.
