NEW YORK, Feb. 13, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Tellabs Inc. ("Tellabs" or the "Company") (Nasdaq:TLAB) stock between October 26, 2010 and April 16, 2011.
For more information, click here: http://zlk.9nl.com/tellabs-tlab/.
The Complaint alleges that throughout the Class Period the defendants made false and misleading statements and/or failed to disclose material adverse facts about Tellabs' business, operations and prospects. Specifically, defendants misrepresented and/or failed to disclose that: (a) in the fourth quarter of 2010, the Company was changing its distribution arrangement with a customer; (b) this change to the distribution arrangement masked that Tellabs' business was declining substantially faster than it represented to the public; (c) the Company's North American business was slowing at a greater rate than represented; and (d) as a result of the above, the defendants' positive statements about the Company's business, operations and prospects lacked a reasonable basis.
If you suffered a loss in Tellabs you have until March 25, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/tellabs-tlab/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP