Ribbon Communications (RBBN) Securities Lawsuit Investigation
IP and Optical Communications Networking Company Ribbon Communications stock crashes following release of 4th quarter results
On Thursday, February 17, 2022, shares of Texas-based Ribbon Communications dropped after its 2021 Q4 report revealed the company was writing off $116 million in goodwill after revising projections for its IP Optical business segment. In addition, Ribbon Communications also announced it would be taking a $20 million charge for a restructuring plan that would include $6 million in workforce reduction costs, as reported by the Dallas Business Journal.
Lost Money in RBBN Stock?
You may be eligible to recover your losses. Get a free and confidential consultation.
(Please provide number of shares, purchase date, and estimated losses.)
Why is RBBN Stock Dropping?
According to the Motley Fool, Ribbon Communications had announced preliminary Q4 results one month ago in January, and the actual results posted on February 16 were a close match except for the $116 million goodwill charge. The Motley Fool notes that this charge is significant relative to the company’s market cap of $541 million.
The Motley Fool goes on to explain that due to the goodwill charge, Ribbon Communications recorded a $96 million quarterly net loss compared to a $124 million net income for the same quarter of last year.
Our Securities Lawyers Have a Winning Record Against Companies Like Ribbon Communications
Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
You “shouldn’t presume that powerful banks and other powerful interests can just get away with doing bad things. Good, qualified counsel that are committed to a cause can usually figure out how to prosecute such cases effectively and prevail.”
–Eric Gibbs, award-winning securities attorney
Praise from the Courts
Federal judge in our AT&T class action:
“I’ve always found them to be extraordinary counsel in terms of their preparation and their professionalism.”
Federal judge in our Chase lawsuit (resulting in $100 million settlement):
They “fought tooth and nail, down to the wire” to achieve “the best settlement that they could under the circumstances.”
Read more about what judges say about us.
Our Featured Securities Team
Eileen Epstein Carney
Eileen represents investors and consumers harmed by financial fraud and other corporate misconduct. She also executes on the firm's strategic vision.
View full profileDave Stein
Dave represents clients in cases nationwide, ranging from securities and financial fraud cases to product liability, privacy, and data breach suits.
View full profileAmanda Karl
Amanda represents employees, consumers, and sexual assault survivors in complex class actions. She also leads the firm’s Voting Rights Task Force.
View full profileGibbs Law Group's Financial Fraud Experience
We represent individuals, whistleblowers, employees, and small businesses across the U.S. against the world's largest corporations. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases involving consumer protection, data breach, digital privacy, and federal and financial fraud lawsuits. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.
