WASHINGTON, Oct. 15 /PRNewswire/ -- Finkelstein Thompson LLP is investigating potential shareholder claims involving BigBand Networks, Inc. ("BigBand") (NASDAQ:BBND).
On September 28, 2007, BigBand's shares fell over 30% in one trading day, closing at $6.49 per share on unusually heavy trading volume. The drop came after BigBand announced that the company was not performing in accordance with its earlier statements contained in its Registration Statement and Prospectus in connection with the company's March 15, 2007 IPO.
Immediately prior to the share price drop, BigBand revealed for the first time numerous problems that existed at the time of the IPO. BigBand's largest customer had reduced orders of the company's products to work off excess and unnecessary inventory. In addition, many of BigBand's customers were having problems customizing the company's products, and these issues would result in very disappointing results for the third quarter 2007, including a significant reduction in revenues. BigBand had failed to reveal any of these problems in its Registration Statement or Prospectus.
If you are a BigBand shareholder and wish to discuss your rights and interests as an investor, please contact our Washington, D.C. office toll-free at (877) 337-1050. You can learn more about Finkelstein Thompson LLP at http://www.finkelsteinthompson.com/. DATASOURCE: Finkelstein Thompson LLP CONTACT: Finkelstein Thompson LLP, +1-202-337-8000 Web Site: http://www.finkelsteinthompson.com/
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