updated 5/23/2011 10:17:14 AM ET 2011-05-23T14:17:14

ATLANTA, May 23, 2011 (GLOBE NEWSWIRE) -- Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of purchasers of Oclaro, Inc. ("Oclaro" or the "Company") (Nasdaq:OCLR) common stock who purchased shares between May 6, 2010 and October 27, 2010, inclusive (the "Class Period"). Specifically, the lawsuit alleges that, among other things, the Company knew but failed to disclose that demand for its products was flat or declining well before it publically acknowledged the slowdown. According to the complaint, this slowing demand for Oclaro's products rendered its forecast of accelerating gross margin growth false and misleading.

If you purchased Oclaro common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than July 18, 2011. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are an Oclaro investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.

CONTACT: Michael I. Fistel, Jr., Esq.
         Marshall P. Dees, Esq.
         Holzer Holzer & Fistel, LLC
         200 Ashford Center North, Suite 300
         Atlanta, GA  30338
         (888) 508-6832 (toll-free)
         mfistel@holzerlaw.com
         mdees@holzerlaw.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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