BigBand Lawsuit Brewing
Reader "cadfael" points out on the message boards that the Law Offices of Eric J. O'Bell LLC has launched an investigation into BigBand Networks "to determine whether it has violated federal securities laws in connection with its March 2007 public stock offering." (See BigBand IPO: Boing!)
Shares for the switched digital video pioneer got pummeled late last week after the company projected a big revenue miss for the third quarter. (See BigBand Falls out of Tune and BigBand Looks to Resolve BigProblems.)
The situation stabilized some Monday, with BigBand shares trading up 2 cents (0.31 percent), to $6.42 each in late-day trading.
BigBand offered the obligatory no-comment about the possibility of an obligatory class action lawsuit.
The law office did not say when it might act on its investigation, and was not immediately available for further comment.
— Jeff Baumgartner, Site Editor, Cable Digital News