A lawsuit was filed on behalf of investors in Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/01/2018 -- An investor, who purchased shares of Kulicke and Soffa Industries Inc. (NASDAQ:KLIC), filed a lawsuit over alleged violations of Federal Securities Laws by Kulicke and Soffa Industries Inc.
Investors who purchased shares of Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) have certain options and for certain investors are short and strict deadlines running. Deadline: July 10, 2018. NASDAQ:KLIC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between November 16, 2017 and May 10, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that Kulicke and Soffa Industries' consolidated financial statements for the fiscal year ending September 30, 2017 could no longer be relied upon due to misstated warranty accruals, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.
On May 10, 2018, during aftermarket hours Kulicke and Soffa Industries, Inc revealed that "[f]ollowing the end of the fiscal quarter, the Company learned of certain unauthorized transactions by a senior finance employee of the Company." Kulicke and Soffa Industries, Inc further disclosed that it "discovered that certain warranty accruals in prior periods had been accounted for incorrectly and therefore misstated," and therefore, "the Company's previously issued consolidated financial statements for the fiscal year ended September 30, 2017 can no longer be relied upon due to the misstated warranty accruals made in prior periods." As a result, Kulicke and Soffa Industries, Inc disclosed that it will be restating its financial statements.
Those who purchased shares of Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) 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