Levi & Korsinsky Appointed in DZS Case; Court Notes Firm’s Past Success

On February 26, 2024, Judge Sean D. Jordan of the U.S. District Court for the Eastern District of Texas consolidated three securities fraud class actions filed against DZS Inc. on behalf of shareholders.  Judge Jordan appointed Jason S. Hawke as lead plaintiff.  

The Court also appointed Levi & Korsinsky as lead counsel, noting "Levi & Korsinsky has served as lead counsel in various securities class action that have resulted in substantial recoveries for shareholders."

The Complaint alleges DZI made substantial errors on its financial statements for the period ending March 31, 2023.  These errors revealed the Company had ongoing, undisclosed issues with its internal controls.  

A copy of the Court's order appointing Mr. Hawke lead plaintiff and Levi & Korsinsky as counsel can be found here.