A lawsuit was filed on behalf of investors in PCM Inc (NASDAQ:PCMI) shares over alleged securities laws violations. Deadline: July 3, 2017. NASDAQ:PCMI investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/22/2017 -- The Shareholders Foundation announces that an investor, who purchased shares of PCM Inc (NASDAQ:PCMI), filed a lawsuit against PCM Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of PCM Inc (NASDAQ:PCMI) have certain options and for certain investors are short and strict deadlines running. Deadline: July 3, 2017. NASDAQ:PCMI investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that between June 17, 2015 and May 2, 2017, the defendants made false and/or misleading statements and/or failed to disclose thatEn Pointe's financial statements that PCM filed with the SEC materially overstated the profitability of the business, and that as a result, PCM's public statements were materially false and misleading at all relevant times
In April 2015, PCM acquired En Pointe Technologies, Inc. and publicly filed En Pointe's supposed financial statements.
On February 8, 2017, PCM Inc reported its fourth quarter and full year 2016 results. PCM Inc reported that its annual Total Revenue rose from over $1.66 billion in 2015 to over $2.25 billion in 2016 and that its Net loss of $18.26 million in 2015 turned into a Net Income of $17.59 million in 2016.
Shares of PCM Inc (NASDAQ:PCMI) grew from $7.66 per share in February 2016 to as high as $31.20 per share in April 2017.
On May 2, 2017, an article published exposing that PCM has alleged that En Pointe's net income was overstated due to several accounting shenanigans.
Shares of PCM Inc (NASDAQ:PCMI) declined on May 4, 2017 to $18.46 per share.
On May 19, 2017, NASDAQ:PCMI shares closed at $18.75 per share.
Those who purchased shares of PCM Inc (NASDAQ:PCMI) have certain options and should contact the Shareholders Foundation.
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