An investigation for investors in NASDAQ:PSIX shares over potential securities laws violations by Power Solutions International was announced and NASDAQ:PSIX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/22/2016 -- An investigation for investors of Power Solutions International Inc (NASDAQ:PSIX) shares over potential securities laws violations by Power Solutions International was announced.
Investors who purchased shares of Power Solutions International Inc (NASDAQ:PSIX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by Power Solutions International regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Power Solutions International Inc reported that its annual Total Revenue rose from $348 million in 2014 to $389.45 million in 2015 while its Net Income declined from $23.73 million in 2014 to $14.28 million in 2015.Shares of Power Solutions International Inc declined from $65.84 per share in April 2015 to as low as $8.83 per share in February 2016.
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 August 19, 2016, NASDAQ:PSIX shares closed at $12.01 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