Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Impinj, Inc. (“Impinj”) (Nasdaq: PI) securities between November 3, 2016 and August 2, 2018, inclusive (the “Class Period”).
Impinj investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Impinj claims that it is working to deliver a platform that powers item-to-cloud connectivity, enabling developers to innovate Internet-of-Things, or IoT, applications.
The complaint alleges that on August 2, 2018, Impinj announced that it was delaying the release of its second quarter 2018 results. The company also disclosed that its Audit Committee commenced an independent investigation in connection with a complaint filed by a former employee, and that Impinj contacted the SEC to advise the SEC of the independent investigation. Impinj further disclosed that it would “not be in a position” to file its Form 10-Q until after the Audit Committee completed its investigation.
Following this news, Impinj’s share price fell $3.02 per share, or 13.7%, to close at $18.97 per share on August 3, 2018, on heavy trading volume.
The complaint alleges that during the Class Period, the defendants failed to disclose that: (1) the company had engaged in conduct that could lead to an employee complaint and/or Audit Committee investigation; (2) the company lacked adequate internal and financial controls; and (3) as a result of the foregoing, the defendants’ statements about Impinj’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
If you are a member of the class described above, you may no later than October 9, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at firstname.lastname@example.org