IMPINJ INC (NASDAQ:PI)
Historical Stock Chart
6 Months : From Jun 2018 to Dec 2018
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
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.
View source 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