Casa Systems, Inc.
|Company Name||Casa Systems, Inc.|
In December 2017, Casa completed its initial public offering (“IPO”) in which it sold 6.9 million shares at $13 per share.
On August 14, 2018, Casa announced disappointing financial results and lowered its revenue guidance for the year by $50 million.
On this news, the Company’s stock price fell $3.52, or nearly 23%, to close at $12.08 per share on August 15, 2018, thereby injuring investors. Since the IPO, Casa’s stock has traded as low as $5.62 per share, significantly below the $13 offering price.
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