NEW YORK, Nov. 12, 2015 /PRNewswire/ -- Bernstein
Liebhard LLP today announced that a securities class action has
been filed in the United States District Court for the District of
New Jersey on behalf of a class
(the "Class") consisting of all persons or entities who purchased
the securities of Checkpoint Systems, Inc. ("Checkpoint" or the
"Company") (NYSE: CKP) between March 5,
2015 and November 3, 2015 (the
"Class Period"). The complaint charges Checkpoint and certain
of its officers with violations of the Securities Exchange Act of
1934.
Checkpoint is a global manufacturer and provider of
technology-driven loss prevention, inventory management and
labeling solutions to the retail and apparel industries. The
lawsuit alleges, among other things, that Defendants issued false
financial information during the Class Period. On November 3, 2015, Checkpoint announced in an 8-K
filing with the Securities and Exchange Commission that it intended
to restate certain financial statements for the first two quarters
of 2015 due to errors relating to the Company's quarterly income
tax provision. On this news, Checkpoint stock plummeted over
20%.
The next day, the Company issued the restated financial figures,
including restated loss figures that were markedly below those
reported during the Class Period. Checkpoint disclosed that
the Company's 1Q15 restated basic loss per share had tripled from
$.02 to $.06, and that the same
figure for the first six months of 2015 doubled from $.14 to $.28.
Plaintiffs seek to recover damages on behalf of all Class
members who invested in Checkpoint securities during the Class
Period. If you invested in Checkpoint securities as described
above, and lost money on the transactions, you may wish to join in
this action to serve as lead plaintiff. In order to do so, you must
meet certain requirements set forth in the applicable law and file
appropriate papers no later than January 11,
2016.
A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order to be
appointed lead plaintiff, the court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as lead plaintiff. Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Bernstein
Liebhard LLP, or other counsel of your choice, to serve as your
counsel in this action.
If you are interested in discussing your rights as a Checkpoint
investor and/or have information relating to the matter, please
contact Joseph R. Seidman, Jr. at
(877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3.5 billion for its
clients. The National Law Journal has recognized
Bernstein Liebhard for twelve consecutive years as one of the top
plaintiffs' firms in the country.
You can obtain a copy of the complaint from the clerk of the
court for the United States District Court for the District of
New Jersey.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2015 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
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