On August 27, 2018, the initial complaint in this securities class action was filed against Impinj, Inc. (“Impinj”), and certain of Impinj’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleged that, during the class period, the defendants made materially false and misleading statements or material omissions about the capabilities of the Impinj Platform. The complaint further alleged that the price of Impinj’s common stock was inflated during the class period as a result of the defendants’ misstatements and omissions. The price of Impinj’s common stock declined when the truth was revealed through a series of disclosures from August 3, 2017 through February 15, 2018.
This is a federal securities class action on behalf of all persons and entities (including, without limitation, their beneficiaries) who purchased or otherwise acquired the publicly traded common stock of Impinj during the period of July 21, 2016 through February 15, 2018, inclusive, and were damaged thereby.
Current Status of Case:
On July 9, 2020, the parties entered into a Stipulation and Agreement of Settlement. The parties reached a settlement in the amount of $20,000,000. On November 20, 2020, the Court issued an Order granting Lead Plaintiffs’ Motion for Final Approval of the Settlement.
Please be advised that the deadline to file a claim is November 27, 2020. You may find additional information regarding the terms of the settlement and claim filing process at http://www.impinjsecuritieslitigation.com/ or by calling A.B. Data, Ltd. at 877.869.0158.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
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