DZS DEADLINE ALERT: Securities Litigation Partner James (Josh) Wilson Encourages… – Press Release

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NEW YORK, July 22, 2023 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against DZS Inc. (“DZS” or the “Company”) DZSI and reminds investors of the August 14, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you suffered losses exceeding $100,000 investing in DZS stock or options between March 10, 2023 and May 31, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/DZSI.

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) DZS’ financial statements from March 31, 2023 to the present contained certain errors; (2) as a result, DZS would need to restate its previously filed quarterly financial statement for the period ending March 31, 2023; (3) the Company had ongoing undisclosed issues with its internal controls over financial reporting; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On May 8, 2023, DZS announced its financial results for Q1 2023 that included Q1 revenue of $91 million, an 18% increase year-over-year and within the guidance range of $90$100 million.

But, on June 1, 2023, DZS announced that it would restate its financial results for its fiscal quarter ended Mar. 31, 2023. The company admitted that it improperly recognized…

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