Keller Lenkner Nabs Lead In Netgear Spinoff Stock-Drop Suit

A California federal judge has awarded Keller Lenkner the lead counsel spot in a lawsuit alleging Netgear Inc. spinoff Arlo Technologies Inc. concealed important information from investors and sent the company’s stock price into decline following its initial public offering.

In a May 6 order, U.S. District Judge Beth Labson Freeman selected Arlo investor Matis Nayman as lead plaintiff, saying he made a “reasonable choice in counsel” by selecting Keller Lenkner LLC, while also approving his choice of Browne George Ross LLP as liaison counsel. The lawsuit alleges Arlo, a provider of remote access security cameras, and its executives are responsible for a more than 40% drop in stock price in less than four months after its IPO.

Tom Kayes