IMPORTANT SHAREHOLDER ALERT: Kaskela Law Announces Shareholder Class Action Lawsuit Against Impinj, Inc. and Important Deadline
August 10 2018 - 2:24PM
Business Wire
Kaskela Law LLC announces that a shareholder class action
lawsuit has been filed against Impinj, Inc. (NASDAQ: PI) (“Impinj”
or the “Company”) on behalf of investors who purchased the
Company’s securities between May 7, 2018 and August 2,
2018, inclusive (the “Class Period”).
IMPORTANT DEADLINE: Investors who purchased Impinj’s
securities during the Class Period may, no later than October 9,
2018, seek to be appointed as a lead representative of the
class.
Impinj investors who suffered an investment loss in excess of
$50,000 are encouraged to immediately contact Kaskela Law LLC (D.
Seamus Kaskela, Esq.) at (888) 715 – 1740 or
http://kaskelalaw.com/case/impinj/ to learn how to
participate in the shareholder action and/or to discuss their
options for recovery.
On August 2, 2018, Impinj disclosed that it was delaying its
second-quarter 2018 earnings release and investor conference call,
and that “[t]he Audit Committee of Impinj’s Board of Directors has
commenced an independent investigation in connection with a
complaint filed by a former employee.” Following this
disclosure, shares of the Company’s stock declined $3.02 per share,
or over 13.7% in value, to close on August 3, 2018 at
$18.97.
The shareholder class action complaint alleges that defendants
made materially false and misleading statements during the Class
Period and failed to disclose material adverse facts to investors
about the Company’s business, operations, and prospects.
Specifically, defendants failed to disclose to investors: (i) that
the Company had engaged in conduct that could lead to an employee
complaint and/or Audit Committee investigation; and (ii) that the
Company lacked adequate internal and financial controls. The
complaint further alleges that, as a result of the foregoing,
investors purchased Impinj’s securities at artificially inflated
prices during the Class Period and sustained investment losses
following the Company’s disclosure, and seeks to recover investor
losses.
Impinj investors are encouraged to contact Kaskela Law LLC to
discuss this action and their legal options for monetary recovery.
Kaskela Law LLC exclusively represents investors in state and
federal courts throughout the country. For additional information
about Kaskela Law LLC please visit www.kaskelalaw.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180810005397/en/
KASKELA LAW LLCD. Seamus Kaskela, Esq.201 King of Prussia
RoadSuite 650Radnor, PA 19087484-258 – 1585888-715 –
1740info@kaskelalaw.comwww.kaskelalaw.com
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