SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Checkpoint...
November 12 2015 - 6:04PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of
Checkpoint Systems, Inc. (NYSE: CKP)?
- Did you purchase your shares between
March 5, 2015 and November 3, 2015, inclusive?
- Did you lose money in your
investment?
Rigrodsky & Long, P.A. announces that a complaint has been
filed in the United States District Court for the District of New
Jersey on behalf of all persons or entities that purchased the
common stock of Checkpoint Systems, Inc. (“Checkpoint Systems” or
the “Company”) (NYSE: CKP) between March 5, 2015 and November 3,
2015, inclusive (the “Class Period”), alleging violations of the
Securities Exchange Act of 1934 against the Company and certain of
its officers (the “Complaint”).
If you purchased shares of Checkpoint Systems during the Class
Period, or purchased shares prior to the Class Period and still hold Checkpoint Systems, and wish to
discuss this action or have any questions concerning this notice or
your rights or interests, please contact Timothy J. MacFall,
Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter
Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by
e-mail to info@rl-legal.com; or at:
http://rigrodskylong.com/investigations/checkpoint-systems-inc-ckp-lawsuit.
The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements, and
omitted materially adverse facts, about the Company’s business,
operations and prospects. As a result of defendants’ alleged false
and misleading statements, the Company’s stock traded at
artificially inflated prices during the Class Period.
According to the Complaint, on November 3, 2015, the Company
announced that during the preparation of the third quarter
financial statements, it discovered financial statement errors
attributable to the accounting for its quarterly income tax
provision. As a result of these errors, on November 2, 2015, the
Audit Committee concluded that the unaudited financial statements
for the quarterly period ended March 29, 2015, the quarterly period
ended June 28, 2015 and the year-to-date period ended June 28, 2015
contained in the Company's Quarterly Reports on Form 10-Q for the
quarterly period ended March 29, 2015 and the quarterly period
ended June 28, 2015 should no longer be relied upon due to the
effect of financial statement errors that are attributable to an
error in the accounting for the Company's quarterly income tax
provision. Accordingly, investors should no longer rely upon the
Company's previously-issued financial statements for these periods
and any earnings releases or other Company communications relating
to these periods.
On this news, shares in Checkpoint Systems dropped over 22%,
closing at $5.97 per share on November 4, 2015, on heavy trading
volume.
If you wish to serve as lead plaintiff, you must move the Court
no later than January 11, 2016. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. Any member of the proposed class may move
the court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member.
Attorney advertising. Prior results do not guarantee a similar
outcome.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151112006740/en/
Rigrodsky & Long, P.A.Timothy J. MacFall, EsquirePeter
Allocco888-969-4242516-683-3516Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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