Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Ciena Corporation    

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

Ciena Corporation : Zeldes & Haeggquist, LLP Announces Investigation of Ciena Corporation (CIEN)

share with twitter share with LinkedIn share with facebook
share via e-mail
03/08/2012 | 03:20pm CEST

Zeldes & Haeggquist, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible violations of the federal securities laws by Ciena Corporation, its CEO Gary Smith and its CFO James Moylan.

If you purchased shares of Ciena (NASDAQ:CIEN) between December 9, 2010 and June 7, 2011 (the "Class Period") and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Amber L. Eck at 619-342-8000 or by email at [email protected].

Ciena is a Maryland-based global supplier of telecommunications networking equipment, software and services that are used in telecommunications networks operated by telecommunications service providers, cable operators, governments and enterprises.

In March 2010, Ciena completed the acquisition of Nortel's Metro Ethernet Networks ("MEN") division for $773.8 million.

In press releases and SEC filings, Ciena promised investors that its integration efforts were succeeding and that they were on target to meet an aggressive 2011 operating plan, including achieving significant revenue growth and 7%-10% operating margins by the end of the 4Q 2011. Ciena attributed this to the success of its integration efforts, the strength of its product offerings, strong demand for Ciena's high margin switching gear and skillful execution of its business plan.

The investigation focuses on whether Ciena issued false and misleading statements to investors during the Class Period, including whether Ciena failed to disclose that it was having difficulty ramping up international sales, that the integration of the MEN division was not proceeding as budgeted, and that it was not on track to meet its operating plan revenue growth, operating expense, gross margin or operating margin targets for fiscal 2011.

After Ciena disclosed its actual 2Q 2011 financial results and downgraded its 3Q 2011 results, the Company's stock price fell from $29.24 per share on March 4, 2011 to close at $20.29 on June 8, 2011.

Zeldes & Haeggquist is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com for more information.

Zeldes & Haeggquist, LLP
Amber L. Eck, 619-342-8000
[email protected]

© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
09/14 CIENA : to Showcase Innovations That Boost Capacity of Submarine Cables at Subma..
09/07 CIENA : Management's Discussion and Analysis of Financial Condition and Results ..
08/31 CIENA : Trademark Application for "CIENA" Filed
08/31 CIENA CORP : Results of Operations and Financial Condition, Financial Statements..
08/31 CIENA : beats Street 3Q forecasts
08/31 CIENA : Reports Fiscal Third Quarter 2017 Financial Results
08/24 CIENA : Sydney Trains Selects Ciena to Modernize Network for Enhanced Operations..
08/24 CIENA CORP : Change in Directors or Principal Officers, Financial Statements and..
08/24 CIENA : Appoints Bill Fathers to Board of Directors
08/23 CIENA : to Webcast Financial Community Events
More news
Financials ($)
Sales 2017 2 795 M
EBIT 2017 339 M
Net income 2017 173 M
Finance 2017 53,0 M
Yield 2017 -
P/E ratio 2017 23,03
P/E ratio 2018 16,40
EV / Sales 2017 1,12x
EV / Sales 2018 0,98x
Capitalization 3 188 M
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 29,3 $
Spread / Average Target 31%
EPS Revisions
Gary B. Smith President, Chief Executive Officer & Director
Patrick H. Nettles Executive Chairman
James E. Moylan Chief Financial Officer & Senior Vice President
Stephen B. Alexander Chief Technology Officer & Senior Vice President
Lawton Wehle Fitt Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CISCO SYSTEMS7.35%161 038
QUALCOMM-19.95%77 124
ERICSSON-14.19%19 267