SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Checkpoint Systems, Inc. and Certain Off...
November 12 2015 - 6:42PM
Pomerantz LLP announces that a class action lawsuit has been filed
against Checkpoint Systems, Inc. (“Checkpoint” or the “Company”)
(NYSE:CKP) and certain of its officers. The class
action, filed in United States District Court, District of New
Jersey, is on behalf of a class consisting of all persons or
entities who purchased Checkpoint securities between March 5, 2015
and November 3, 2015 inclusive (the “Class Period”). This
class action seeks to recover damages against Defendants for
alleged violations of the federal securities laws under the
Securities Exchange Act of 1934 (the “Exchange Act”).
If you are a shareholder who purchased
Checkpoint securities during the Class Period, you have until
January 11, 2016 to ask the Court to appoint you as Lead Plaintiff
for the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact Robert
S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or
888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail
are encouraged to include their mailing address, telephone number,
and number of shares purchased.
Checkpoint manufactures and markets labeling
systems and solutions for a diverse customer base, providing RF
source tagging, barcode labeling systems, electronic article
surveillance, handheld labeling systems, and retail merchandising
systems for applications within the automatic identification
industry.
The Complaint alleges that throughout the Class
Period, defendants made false and misleading statements and failed
to disclose material information, with respect to the accounting
for its quarterly income tax provisions.
On November 3, 2015, Checkpoint filed a Form 8-K
with the SEC (“November 3 8-K”), including an Item 4.02(a),
Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Interim Review, in which it announced
that it had discovered errors attributable to the accounting for
the quarterly income tax provisions in its recently reported
financial results.
Checkpoint’s common stock price plunged in
reaction to this news, its closing price falling by $1.73 per
share, or 22%, between November 3, 2015 and November 4, 2015.
The Pomerantz Firm, with offices in New York,
Chicago, Florida, and Los Angeles, is acknowledged as one of the
premier firms in the areas of corporate, securities, and antitrust
class litigation. Founded by the late Abraham L. Pomerantz, known
as the dean of the class action bar, the Pomerantz Firm pioneered
the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he
established, fighting for the rights of the victims of securities
fraud, breaches of fiduciary duty, and corporate misconduct. The
Firm has recovered numerous multimillion-dollar damages awards on
behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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