This lawsuit is for anyone who acquired securities in DZS, Inc. (NASDAQ: DZSI) from August 2, 2022 through June 1, 2023.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had sufficient controls in place to prevent improper accounting but then by overstating revenue.
On June 1, 2023, before the market opened, DZS disclosed that it needs to restate its previously issued financial statements for the first quarter of 2023. The Company further disclosed that the restatement relates to approximately $15 million in revenue recognized in connection with two customer projects. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in DZS, Inc. (NASDAQ: DZSI) from August 2, 2022 through June 1, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
3070 Bristol Pike, Suite 112, Bensalem, PA 19020 
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hsmith@howardsmithlaw.com