An investigation on behalf of current long term investors in Kornit Digital Ltd. (NASDAQ:KRNT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 05/24/2023 -- Certain directors of Kornit Digital Ltd are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in Kornit Digital Ltd. (NASDAQ: KRNT) shares, 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 for investors in NASDAQ: KRNT stocks follows a lawsuit filed against Kornit Digital Ltd. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: KRNT stocks, concerns whether certain Kornit Digital Ltd. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants repeatedly touted the competitive advantages provided by Kornit's technology and assured investors that the Company faced virtually no meaningful competition in the "direct-to-garment" printing market, that the Defendants also assured investors that there was strong demand for Kornit's digital printing systems and consumable products, such as textile inks, as well as for the services the Company provides customers to maintain and manage its digital printers, and to manage customer workflow,t hat the Defendants further assured investors that the strong demand for the Company's products and services would enable Kornit Digital Ltd. to maintain its existing customer base and attract new customers that would limit the risks associated with a substantial portion of its revenues being concentrated among a small number of large customers, that the Defendants knew, or at a minimum, recklessly disregarded, that the Company's digital printing business was plagued by severe quality control problems and customer service deficiencies, that those problems and deficiencies caused Kornit Digital Ltd. to cede market share to competitors, which, in turn, led to a decrease in the Company's revenue as customers went elsewhere for their digital printing needs, and that as a result of Defendants' misrepresentations, Kornit ordinary shares traded at artificially inflated prices between February 17, 2021 and July 5, 2022.
Those who purchased shares of Kornit Digital Ltd. (NASDAQ: KRNT) have certain options and should contact the Shareholders Foundation.
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