DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
NEW YORK, Feb. 03, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Ooma, Inc. (“Ooma”) (NYSE:OOMA) pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company’s Initial Public Offering on July 17, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the Superior Court of the State of California, County of San Mateo. If you purchased or otherwise acquired Ooma securities pursuant to the IPO, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/ooma.
The complaint alleges that Ooma failed to disclose material information in its Registration Statement, including: (a) that certain exceptionally large prior fiscal year sales to its largest outside reseller were not recurring or being replaced in the fiscal year leading into the IPO; (b) that the company’s customer churn rate, or rate of customer terminations or failures to renew, had increased significantly as of the IPO as a result of customers having endured eight-hour service outages in April and May 2015; and (c) that technological difficulties in the company’s lead generation business were causing leads to get lost in the internet before reaching their intended targets, thus negatively impacting the company’s business.
On July 17, 2015, Ooma successfully raised $65 million in its IPO. Ooma’s stock now trades at approximately half the IPO price of $13 per share, and recently closed at $6.49 per share on January 15, 2016.
If you suffered a loss in Ooma and would like to obtain additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/ooma.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
