A securities class action has been filed against Calix, Inc. and two of its senior executives, alleging they made materially misleading statements about the company's gross margins between January 28 and April 21, 2026. The complaint names CEO Michael Weening and CFO Cory Sindelar as individual defendants, claiming they controlled the dissemination of false information regarding Calix's supply of lower-cost memory components and the resulting margin pressure. When the truth emerged on April 21, 2026, Calix shares fell 42.65% the following day on unusually heavy volume. The lawsuit asserts claims under Section 20(a) of the Securities Exchange Act of 1934 and cites Sarbanes-Oxley certifications in which the executives personally attested to the accuracy of financial reports. The court has set July 27, 2026 as the deadline for investors to apply for lead plaintiff appointment.
Calix IncSecurities class action lawsuit alleging misleading statements about gross margins, causing 42.65% share drop.