A lawsuit was filed on behalf of investors in IMPINJ Inc (NASDAQ: PI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/29/2018 -- An investor, who purchased shares of IMPINJ Inc (NASDAQ: PI), filed a lawsuit over alleged violations of Federal Securities Laws by IMPINJ Inc in connection with certain allegedly false and misleading statements.
Investors, who purchased shares of IMPINJ Inc (NASDAQ: PI), have certain options and for certain investors are short and strict deadlines running. Deadline: October 8, 2018. NASDAQ: PI investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between May 7, 2018 and August 2, 2018, the defendants failed to disclose that the Company had engaged in conduct that could lead to an employee complaint and/or Audit Committee investigation, that the Company lacked adequate internal and financial controls, and that, as a result of the foregoing, Defendants' statements about Impinj's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
On February 1, 2018, Impinj announced its preliminary fourth quarter 2017 revenue and reduced its outlook for the first quarter 2018. Additionall, IMPINJ Inc reported that long-time Chief Financial Officer Evan Fein ,who has been with the company since 2000, has decided to step down effective March 30.
On August 2, 2018, IMPINJ Inc announced that it was delaying the release of its second quarter 2018 results. IMPINJ Inc further disclosed that its Audit Committee had commenced an independent investigation in connection with a complaint filed by a former employee, and that IMPINJ Inc had contacted the Securities and Exchange Commission ("SEC") to advise the SEC of the independent investigation.
Those who purchased shares of IMPINJ Inc (NASDAQ: PI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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