Case: Casa Systems, Inc.
Venue: Massachusetts Superior Court, Essex County
Class Period: Investors that purchased Casa Systems' common stock in or traceable to the Company's IPO. 
Lead Plaintiff Deadline: 9/2/2019
Contact: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NEW YORK, NY – July 24, 2019 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Casa Systems, Inc. (“Casa Systems” or the “Company”) (NASDAQ: CASA).  A complaint has been filed against the Company, certain executives and/or directors, and the underwriters of the Company’s December 15, 2017 initial public offering (the “IPO”) for alleged securities law violations.  Investors that purchased Casa Systems’ common stock in or traceable to the Company’s IPO may be affected.

According to the complaint, Casa Systems is a company that helps customers provide and manage broadband connectivity.

Further, according to the complaint, Casa Systems offered 6 million shares of common stock at $13 per share in its December 2017 IPO.  The complaint alleges that, among other things, the offering documents for the IPO stated that the Company was experiencing rapid growth and that broadband cable providers were spending significant money on technology initiatives, but failed to disclose the following: 

(a) that at the time of the IPO, Casa Systems’ key broadband/cable customers were already in “digestive” mode characterized by attempts to implement the technology solutions they had already purchased, and that the customers had already signaled a cessation or significant curtailment in additional spending on such initiatives; 

(b) that at the time of the IPO, Casa Systems’ key customers had already accelerated a shift from hardware purchases to software-based capacity expansions, and to wireless solutions, and that to capitalize on these shifts Casa Systems would have to spend much more on R&D, thereby negatively impacting EBITDA and earnings per share (“EPS”);

(c) that at the time of the IPO, the Company’s customers were making only short-term investments on network capacity expansions and were delaying high-capacity purchases of hardware as they debated their strategy for next-generation systems;

(d) that at the time of the IPO, Casa Systems expected lower hardware purchases from its MSO customers as they transitioned from Integrated CCAP to Distributed Access Architecture (DAA), thereby hurting revenues, and that Casa Systems was aware that the move to DAA would likely occur as part of a multi-year upgrade process and that MSOs would further delay spending decisions as they waited for availability of the second generation nodes; and

(e) that the Company’s business, prospects and ability to achieve growth were materially impaired by the time of the IPO as a result of adverse industry, sales and earnings trends.

On August 14, 2018, Casa Systems announced disappointing financial results and cut its revenue guidance for the year by $50 million.  Following this news, Casa Systems’ common stock price declined by $3.52 per share, or 22.6%, to close at $12.08 per share on heavy trading volume of over 5.3 million shares. 

If you are a member of the proposed Class and would like to discuss the complaint or our investigation, please contact us by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact: 

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400 
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it