San Diego, CA -- (SBWIRE) -- 10/18/2016 -- The Shareholders Foundation announced that a deadline is coming up on October 21, 2016 in the lawsuit filed for investors of Power Solutions International Inc (NASDAQ:PSIX) over alleged securities laws violations by Power Solutions International.

Investors who purchased shares of Power Solutions International Inc (NASDAQ:PSIX) have certain options and there are strict and short deadlines running. Deadline: October 21, 2016. NASDAQ:PSIX stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the complaint filed in the U.S. District Court for the Northern District of Illinois the plaintiff alleges on behalf of purchasers of Power Solutions International Inc (NASDAQ:PSIX) that the Defendants made false and/or misleading statements and/or failed to disclose that Power Solutions International Inc inappropriately recognized revenue for certain transactions, that Power Solutions International Inc lacked adequate internal controls over financial reporting, and that as a result of the foregoing, that Power Solutions International Inc's public statements were materially false and misleading at all relevant times.

On August 15, 2016 Power Solutions International Inc (NASDAQ:PSIX) announced that it requires additional time to file its Form 10-Q for the quarter ended June 30, 2016, with the Securities and Exchange Commission in order to finalize the financial statements for the quarter. Specifically, Power Solutions International Inc stated that it has not completed its financial statements "in light of an ongoing review of allegations made by a former employee" concerning "certain transactions involving revenue recognition Shares of Power Solutions International Inc (NASDAQ:PSIX) declined to as low as $13.00 per share on August 16, 2016.

On August 18, 2016, Power Solutions International Inc announced that it received a notice from The Nasdaq Stock Market ("Nasdaq") on August 16, 2016, stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it did not timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 with the Securities and Exchange Commission.

On October 17, 2016, NASDAQ:PSIX shares closed at $10.46 per share.

Those who purchased shares of Power Solutions International Inc have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com