Company Announcements

Important Information Regarding Section 20(a) Individual Liability Claims Against Calix CEO and CFO Who Allegedly Concealed Exhaustion of Low-Cost Memory Supply While Touting Record Margins

NEW YORK , June 18, 2026 /PRNewswire/ -- Two senior executives of Calix, Inc. (NYSE: CALX) are named as individual defendants in a securities class action alleging they personally controlled the dissemination of materially misleading statements about the Company's gross margins during the period from January 28, 2026 through April 21, 2026. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

When the truth emerged on April 21, 2026, CALX shares fell $6.93 per share, a decline of 13.98%, closing at $42.65 the following day on unusually heavy volume. The Court has set July 27, 2026 as the deadline to apply for lead plaintiff appointment.

The Named Individual Defendants

The complaint identifies the following officers as individually liable:

• Michael Weening, Chief Executive Officer at all relevant times, who possessed the power and authority to control the contents of SEC filings, press releases, and presentations to analysts and institutional investors
• Cory Sindelar, Chief Financial Officer at all relevant times, who oversaw financial reporting and participated in earnings communications where the concealed "advanced purchasing" strategy was eventually disclosed

Both defendants are alleged to have had access to material non-public information regarding the Company's dwindling supply of lower-cost memory components and the imminent margin pressure that information implied.

Section 20(a) Control Person Framework

The action asserts claims under Section 20(a) of the Securities Exchange Act of 1934, which imposes liability on individuals who "controlled" the entity that violated federal securities laws. The complaint contends that by virtue of their high-level positions, both Weening and Sindelar:

• Had direct supervisory involvement in day-to-day operations
• Influenced and controlled the content of SEC filings and press releases issued during the Class Period
• Were provided with or had unlimited access to Company reports and public statements prior to issuance
• Had the ability to prevent misleading statements or cause them to be corrected
• Were privy to internal data reflecting the true state of the Company's memory component supply and cost trajectory

Sarbanes-Oxley Certification Obligations

Under Sections 302 and 906 of the Sarbanes-Oxley Act, both the CEO and CFO personally certified the accuracy of the Company's Form 10-K for the period ended December 31, 2025, filed on February 20, 2026. The complaint alleges these certifications were made while the Company's advanced supply of memory components was already dwindling, meaning the record 58% non-GAAP gross margin figure reported for Q4 2025 was sustained by a temporary procurement advantage that defendants knew was nearing exhaustion.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives certify financial reports under Sarbanes-Oxley, they assume personal responsibility for the information those filings contain and what they omit." -- Joseph E. Levi, Esq.

Speak with an attorney about your options or call (888) SueWallSt.

About SueWallSt

SueWallSt -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.

Frequently Asked Questions About the CALX Lawsuit

Q: Who are the defendants named in the CALX lawsuit? A: The complaint names Calix, Inc. and individual defendants CEO Michael Weening and CFO Cory Sindelar, who signed SEC filings and made or controlled public statements during the Class Period.

Q: What is the CALX lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is July 27, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I already sold my CALX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the Class Period and sold at a loss may still participate.

Q: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact SueWallSt before July 27, 2026 to evaluate.

Q: What documents do I need to make a claim? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

CONTACT:

SueWallSt
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171

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SOURCE SueWallSt.com