BENSALEM, Pa.–(BUSINESS WIRE)–$DZSI–Law Offices of Howard G. Smith announces an investigation on behalf of DZS Inc. (“DZS” or the “Company”) (NASDAQ: DZSI) investors concerning the Company’s possible violations of federal securities laws.
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, DZS’s stock price fell approximately 33% during intraday trading on June 1, 2023, thereby injuring investors.
If you purchased DZS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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