Calix, Inc. Class Action Lawsuit - CALX

Company: Calix, Inc.

Ticker: (NYSE) CALX

13

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Lead Plaintiff Deadline: July 27, 2026

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1. I have reviewed a complaint filed in the action.

2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4. My transaction(s) in Calix, Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5. Within the last 3 years,



6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Calix, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Class Period

Begins

28

Jan 2026

Ends

21

Apr 2026

January 28, 2026 - April 21, 2026

Allegations

The filed complaint alleges that Calix, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s first quarter margins had significantly benefited from advanced purchasing of memory components; (2) the Company’s advanced supply of memory components was dwindling; (3) as a result, the Company was experiencing negative margin pressure as it was forced to purchase memory components at rising market prices; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s margins, business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Eligibility

In order to be eligible to join the CALX class action lawsuit, you must have incurred a loss on shares of Calix, Inc. purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Calix, Inc. during the relevant time frame, you have until July 27, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Calix, Inc.Class Action Lawsuit Details

CALX Class Action Summary

Company

Calix, Inc. (NYSE: CALX)

Lead Plaintiff Deadline

July 27, 2026

Class Period

January 28, 2026 – April 21, 2026

Stock Drop

April 22, 2026 – CALX fell $6.93 (13.98%) to $42.65

Lawsuit Type

Securities Class Action

Introduction

A securities class action lawsuit has been filed against Calix, Inc. (NYSE: CALX), its Chief Executive Officer Michael Weening, and its Chief Financial Officer Cory Sindelar on behalf of investors who purchased or acquired Calix securities between January 28, 2026 and April 21, 2026. The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements by touting record gross margins while failing to disclose that those margins had been artificially sustained through advanced purchasing of memory components, a supply buffer that was rapidly depleting. According to the complaint, when Calix reported first quarter 2026 results on April 21, 2026, and its CFO revealed that the advanced supply had "run its course" and the company now faced rising market prices for memory components, the stock dropped $6.93 per share, or 13.98%, to close at $42.65 on April 22, 2026, on unusually heavy trading volume.

Company Profile

Calix, Inc. is a Delaware-incorporated company headquartered in Hayward, California, that engages in the provision of cloud and software platforms, and systems and services. Calix’s common stock trades on the New York Stock Exchange under the ticker symbol CALX.

Class Period

January 28, 2026 – April 21, 2026

Investors who purchased or acquired Calix, Inc. (CALX) securities during the Class Period may be entitled to seek recovery under the federal securities laws.

 

Allegations

The complaint alleges that Calix and its senior executives engaged in a course of conduct designed to conceal material adverse facts about the true drivers behind the company's gross margin performance. Beginning on January 28, 2026, when Calix issued a press release announcing fourth quarter and full year 2025 financial results, the company touted a "non-GAAP gross margin record of 58%, marking the eighth consecutive quarter of margin improvement." According to plaintiffs, this presentation was materially misleading because it failed to disclose that the company's margins had significantly benefited from advanced purchasing of memory components.

The complaint further alleges that when Calix filed its Form 10-K with the SEC on February 20, 2026, the company included risk factor disclosures warning that factors such as component shortages "could" disrupt its business and adversely impact gross margin, and that the company had "a history of fluctuations in our gross margin and operating results." Plaintiffs allege these disclosures were materially misleading because the risk factors warned of risks that "could" or "may" impact the company, when in reality the company's advanced supply of memory components was already dwindling and the company was already experiencing negative margin pressure from rising memory component prices. On the day the 10-K was filed, Calix shares closed at a Class Period high of $55.61.

According to the complaint, defendants knew or recklessly disregarded that the company's positive statements about its margins, business, operations, and prospects were materially false and misleading, as the company's margins had significantly benefited from advanced purchasing of memory components and that advanced supply was dwindling. The complaint alleges defendants failed to disclose four critical facts: that first quarter margins had significantly benefited from advanced purchasing, that the advanced supply was dwindling, that the company was experiencing negative margin pressure as it was forced to purchase memory components at rising market prices, and that defendants' positive statements about the company's margins, business, operations, and prospects were therefore materially misleading and lacked a reasonable basis.

The Truth Emerges

On April 21, 2026, after the market closed, Calix reported first quarter 2026 results revealing that non-GAAP gross margin had declined to 57.2%, a decrease of 80 basis points sequentially. More significantly, the company issued forward guidance projecting second quarter 2026 non-GAAP gross margin of 55.8% at the midpoint, representing an additional 140 basis point decline from the prior quarter, which the company attributed primarily to "the increase in memory component costs."

During the accompanying earnings call that same day, CFO Cory Sindelar revealed the underlying cause of the margin shift. Sindelar stated that "advanced purchasing had allowed us to avoid higher memory component costs during the first quarter," but that "advanced supply has run its course, and we now face market prices." According to the complaint, these disclosures revealed that the company's record margins had significantly benefited from advanced purchasing of memory components, a supply that was now exhausted, leaving the company exposed to rising market prices. Sindelar further disclosed that for the full year 2026, the company expected non-GAAP gross margin to decline between 50 and 150 basis points, reflecting the effects of higher memory component costs.

Market Reaction

Following these disclosures, Calix's stock price fell sharply. On April 22, 2026, CALX shares declined $6.93 per share, or 13.98%, to close at $42.65 on unusually heavy trading volume. The decline represented a steep drop from the Class Period high of $55.61, which had been reached on February 20, 2026, the same day the company filed its Form 10-K affirming the record margin results that the complaint alleges were materially misleading.

Next Steps

●       Lead Plaintiff Deadline: July 27, 2026

●       After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.

●    Defendants may file a motion to dismiss.

●       If the case proceeds, the Court may consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. No specific outcomes are guaranteed.