An investigation on behalf of investors in Power Solutions International Inc (OTC: PSIX) shares over potential wrongdoing at Power Solutions International Inc was announced and OTC: PSIX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/08/2018 -- An investigation on behalf of current long-term investors in shares of Power Solutions International Inc (OTC: PSIX, formerly NASDAQ:PSIX) was announced over potential breaches of fiduciary duties by certain officers and directors at Power Solutions International Inc.
Investors who purchased shares of Power Solutions International Inc (OTC: PSIX, formerly NASDAQ:PSIX) before March 2014 and currently hold any of those OTC: PSIX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Power Solutions International Inc officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
A lawsuit was filed against Power Solutions International Inc. According to the lawsuit, between February 27, 2014 and February 2, 2017. The defendants made false and misleading statements and failed to disclose that: (1) Power Solutions International Inc inappropriately recognized revenue for certain transactions; (2) Power Solutions International Inc lacked adequate internal controls over financial reporting; and (3) as a result, Power Solutions' public statements were materially false and misleading at all relevant times.
Power Solutions International Inc was delisted from the NASDAQ Stock Market in connection with the Company's non-compliance with Securities and Exchange Act ("SEC") filing requirements. The delisting was triggered when on August 15, 2016; Power Solutions disclosed that it needed additional time to file its Form 10-Q for the quarter ending June 30, 2016, with the SEC, due to revenue recognition issues.
Those who purchased shares of Power Solutions International Inc (OTC: PSIX, formerly NASDAQ:PSIX), 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