A DZS Inc. shareholder dropped years-long allegations the telecommunications software company misrepresented its accounting abilities as it sells off its assets through bankruptcy proceedings.
But the lead plaintiff is still pursuing securities claims against CEO Charles Daniel Vogt and former chief financial officer Misty Kawecki, he told US District Court for the Eastern District of Texas Judge Sean D. Jordan on May 30.
The consolidated suit alleged DZS misled investors before saying it needed restate a 2023 financial statement due to improper revenue recognition related to two customer projects, with affected revenue equaling about $15 million. DZS filed for Chapter ...
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