A lawsuit was filed on behalf of investors in IMPINJ Inc (NASDAQ: PI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/22/2019 -- The Shareholders Foundation announced that a lawsuit for certain investors, who purchased shares of IMPINJ Inc (NASDAQ: PI), is pending against IMPINJ Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of IMPINJ Inc (NASDAQ: PI) have certain options and for certain investors are short and strict deadlines running. Deadline: October 8, 2018. NASDAQ: PI investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On February 1, 2018, Impinj announced its preliminary fourth quarter 2017 revenue and reduced its outlook for the first quarter 2018. Additionall, IMPINJ Inc reported that long-time Chief Financial Officer Evan Fein ,who has been with the company since 2000, has decided to step down effective March 30.
On August 2, 2018, IMPINJ Inc announced that it was delaying the release of its second quarter 2018 results. IMPINJ Inc further disclosed that its Audit Committee had commenced an independent investigation in connection with a complaint filed by a former employee, and that IMPINJ Inc had contacted the Securities and Exchange Commission ("SEC") to advise the SEC of the independent investigation.
On August 7, 2018, a lawsuit was filed against IMPINJ Inc over alleged Securities Laws Violations. The plaintiff claimed that the defendants failed to disclose that the Company had engaged in conduct that could lead to an employee complaint and/or Audit Committee investigation, that the Company lacked adequate internal and financial controls, and that, as a result of the foregoing, Defendants' statements about Impinj's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
On February 13, 2019, a consolidated complaint was filed and on March 14, 2019, the defendants filed their motion to dismiss the case.
On October 4, 2019, the court denied in part the defendants' motion to dismiss the case.
Those who purchased shares of IMPINJ Inc (NASDAQ: PI) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in conftact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.