Sonus Networks should be bought on any weakness, says FBR Capital FBR Capital views Sonus Networks' public offering of 37.5M shares on behalf of top holder Legatum as a positive since it will enable Sonus to dilute shareholder concentration while returning additional cash to shareholders. FBR recommends buying the stock on any weakness from the offering and reiterates an Outperform rating on Sonus.
Sonus discloses purported shareholder class action lawsuit Sonus Networks announced that a purported shareholder class action was filed against it and two of its officers in the United States District Court for the District of New Jersey. The plaintiff claims to represent purchasers of Sonusí common stock during the period from October 23, 2014 to March 24, 2015 and seeks unspecified damages. The principal allegation contained in the Complaint is the claim that the defendants purportedly made misleading forward-looking statements concerning Sonusí Q1 financial performance. Sonus believes that it and the individual defendants have meritorious defenses to the allegations made in the Complaint and intends to contest the lawsuit vigorously.