According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Arrow maintained defective disclosure controls and procedures and internal controls over financial reporting;
- the foregoing increased the risk that the company could not timely file one or more of its periodic financial reports with the SEC as required by the NASDAQ’s listing requirements;
- accordingly, Arrow was at an increased risk of being delisted from the NASDAQ;
- following the disclosure of deficiencies in the Company’s disclosure controls and procedures and internal controls over financial reporting, Arrow downplayed the severity of these issues and the associated risks; and
- as a result, the Company’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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