||Electronics for Imaging, Inc.
||United States District Court for the District of New Jersey
||The Hon. Madeline Cox Arleo
||February 22, 2017 - August 3, 2017
On August 10, 2017, the initial complaint in this securities class action was filed against Electronics for Imaging, Inc (“Electronics for Imaging” or the “Company”), and certain of Electronic for Imaging’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. The complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was improperly recognizing revenue; (2) the Company’s disclosure controls and procedures were not effective; (3) the Company’s internal control over financial reporting were not effective; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Plaintiff brings this class action on behalf of a class consisting of all persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of Electronics for Imaging from February 22, 2017 through August 3, 2017, both dates inclusive.
Current Status of Case:
On February 20, 2018, Plaintiffs filed an amended complaint (the “Amended Complaint”). Defendants filed a Motion to Dismiss the Amended Complaint on April 23, 2018. On January 31, 2019, the Court issued an Order dismissing the Amended Complaint without prejudice and granted Plaintiffs leave to file a second amended complaint (the “Second Amended Complaint”). On March 4, 2019, Plaintiffs informed the Court that they did not intend to file a Second Amended Complaint. On March 13, 2019, the Court Ordered the matter closed. Plaintiffs filed their Notice of Appeal on April 12, 2019. This action is still ongoing.
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