Invested in
DZS?
Attention DZS shareholders: contact investor rights lawyers for a free evaluation of your potential claims for compensation today.
- Did you acquire shares of DZS, Inc. (NASDAQ: DZSI) in or before August 2022 and do you still hold your DZSI shares?
- Are you concerned about the recent performance of DZS’s stock price?
- Are you concerned about the conduct of DZS’s officers and directors related to DZS’s allegedly deficient internal controls over financial reporting?
- Would you like your potential options for compensation and/or redress to be reviewed by an experienced team of investor lawyers?
Request a free case evaluation of your potential claims for compensation today, via email at arosca@rscounsel.law, through the contact form on this page, or by calling 888-998-0530.
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Investments
Free Case Evaluation
The DZS Class Action Investigation page is the resource for long-term shareholders of DZS who would like to evaluate potential compensation claims.
- Free Case Evaluation
- No Fees if No Recovery
- Contact Us Today
We can also do a Zoom call to discuss your matter.
Posted September 21, 2023
DZS Class Action Investigation
Securities attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner have been investigating potential securities violations and corporate misconduct, as well as questionable business practices involving DZS and have identified potential areas of concern for DZS investors.
What DZS Investors May Do
DZSI investors interested in an evaluation of their potential options to seek compensation and/or pursue claims related to their DZS investment may contact investor rights attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner. Claims that are not timely pursued may expire or otherwise be lost, generally speaking.
Get in Touch with an Experienced Team of Investor Attorneys
Attorneys Rosca, Scarlato, and Weidner have extensive experience in seeking compensation related to investor harm and pursuing claims arising out of alleged violations of securities law and/or corporate misconduct, and are currently evaluating potential claims on behalf of investors in DZS, Inc.
They typically work on a contingent fee basis, do not require any money down from their clients, advance case expenses, and only get paid for their fees and expenses if and when successful, following review and approval by the Court of any fee application.
Concerned DZSI stock investors may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to discuss their potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Potential Compensation Claims
Has DZS Been Accused of Misconduct?
DZS and its control persons have been the subject of three class action lawsuits, filed in the United States District Court for the Eastern District of Texas in June, July, and August 2023 respectively. According to a court order dated September 12, 2023, all three cases were consolidated.
DZS and its control persons were accused in the class action proceedings of, among others, violating securities laws by allegedly making materially false and/or misleading statements and failing to disclose materially adverse facts that allegedly caused DZS’s stock to trade at artificially inflated prices. According to the class action complaints, DZS and certain of its executives allegedly misrepresented DZS’s effectiveness of internal controls over financial reporting.
Were There Problems with DZS’s Financial Reporting?
The 10-Q report filed in May 2023 revealed that the company failed to make any changes to its internal control over financial reporting and that the previously identified material weakness “had not been remediated”. Consequently, “the Company’s disclosure controls and procedures were not effective as of March 31, 2023.”
In early June 2023 DZS filed a 8-K report disclosing that its financial reporting as of and for the three months ended March 31, 2023 “contained an accounting error relating to the timing of revenue recognition with respect to two customer projects.” DZS further added that the value of revenue to be restated is $15 million and that “there can be no assurance that the actual effects of the restatement will be only as described above.”
Two months later DZS filed a Notification of Late Filing in connection with the previously disclosed accounting error relating to the timing of revenue recognition with respect to certain customer projects.
Do DZS Shareholders Have Claims for Compensation?
Investor rights attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner at Rosca Scarlato are investigating potential options and evaluating potential claims for compensation and/or other redress on behalf of DZS long-term shareholders whose share value dropped following the alleged defective internal controls over DZS’s financial reporting. The Rosca Scarlato attorneys have decades of combined experience representing victims of corporate or financial misconduct.
If you are an DZS investor who has held DZSI shares since August 2022 or earlier and are concerned about the drop in the value of your investment, you may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to learn more about your rights and for an evaluation of your potential claims, or to provide useful information.
All consultations are free. The Rosca Scarlato attorneys typically take cases like this on a contingency fee basis, advance all case costs, and only get paid for their fees and expenses if and when they are successful, following review and approval by the Court of any fee application.
To reach attorney Alan Rosca or his colleagues, DZS investors may call 888-998-0530, email arosca@rscounsel.law, or leave a message through the contact form on this webpage.
The general considerations on this page are for informational purposes only and do not constitute legal advice. Such legal advice can only be offered once the attorneys discuss each investor’s situation, learn of the relevant facts and can tailor any advice to that investor’s facts. The DZS Class Action Investigation page is not affiliated with DZS, Inc. There has not been an adjudication on the merits of any allegations referenced in this blog post, as of the date of the posting.
Contact info:
Rosca Scarlato LLC – 216-946-7070 / 888-998-0530.
Alan Rosca – arosca@rscounsel.law
Paul Scarlato – pscarlato@rscounsel.law
Kathryn Weidner – kweidner@rscounsel.law
Recent Investigations
DISCLAIMER
In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.
