Sonus Networks, Inc. (NASDAQ: SONS)
According to the Complaint, Ribbon, formerly Sonus, provided networked solutions from communications service providers and enterprises, bringing intelligence and security to real-time communications.
The Complaint alleges that Defendants knew that the Company would fall materially short of its $74 million revenue forecast, that Defendants knew that the unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, and that Defendants knew that a number of 2015 sales had been "pulled forward" to buoy sales numbers in Q4 2014, at management's express direction, and that the "backlog" of sales expected to be recognized in early 2015 was significantly lower than usual.