An investigation on behalf of investors in Kornit Digital Ltd. (NASDAQ: KRNT) shares over potential wrongdoing at Kornit Digital Ltd. was announced.
San Diego, CA -- (SBWIRE) -- 09/05/2019 -- Certain directors of Kornit Digital Ltd. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Kornit Digital Ltd. (NASDAQ: KRNT) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Kornit Digital directors breached their fiduciary duties and caused damage to the company and its shareholders.
Isreal based Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. Kornit Digital Ltd. Reported thatr ist annual Total Revenue rose from $114.08 million in 2017 to $142.37 million in 2018 and that its Net Loss of $2.01 million in 2017 turned to a Net Income of $12.42 million in 2018.
On May 7, 2019, a report was published regarding Kornit Digital Ltd., entitled "Teed Up And Printing Rebates". The report alleged, among other issues, that Kornit Digital Ltd. was "not adequately disclosing" the terms of Amazon price rebates; that there was "a discrepancy between reported Amazon revenues in Kornit's filings"; and Kornit Digital Ltd. had engaged in "aggressive tactic[s]" with respect to reporting the cost of warrants granted to Amazon, "which the SEC questioned, and made [Kornit] restate results."
Shares of Kornit Digital Ltd. (NASDAQ: KRNT) declined on May, 2019 to $23.93 per share.
Those who purchased shares of Kornit Digital Ltd. (NASDAQ: KRNT) have certain options and should contact the Shareholders Foundation.
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