Class Action Suit Targets CommScope

Izard Nobel announces class action lawsuit against CommScope

May 27, 2010

1 Min Read

WEST HARTFORD, Conn. -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Western District of North Carolina on behalf of purchasers of the common stock of CommScope, Inc. ("CommScope" or the "Company") (NYSE:CTV - News) between April 29, 2008 and October 30, 2008, inclusive (the "Class Period").

The Complaint charges that CommScope, a provider of infrastructure solutions for communication networks worldwide, and certain of its officers and executives violated federal securities laws. Specifically, it is alleged that defendants failed to disclose the following material adverse facts about the Company's true financial condition and prospects: (i) that CommScope was experiencing weaker demand for its cabinet and apparatus products by certain telecommunication service providers; (ii) that the Company's distributors were working off existing inventory and not re-stocking the Company's products; and (iii) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about CommScope and its prospects.

On October 30, 2008, CommScope announced its financial results for the third quarter of 2008, the period ended September 30, 2008. In response to the earnings announcement and the Company's reduced outlook for the fourth quarter and full year 2008, on October 31, 2008, shares of the Company's stock fell $5.48 per share, or 27%, to close at $14.71 per share.

CommScope Inc.

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