Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Electronics For Imaging, Inc. (NASDAQ:EFII) (“Electronics for Imaging” or the “Company”) securities between February 22, 2017 and August 3, 2017, both dates inclusive (the “Class Period”).
Electronics For Imaging designs and markets products that support color and black-and-white printing on a variety of peripheral devices.
The shareholder class action complaint alleges that Electronics For Imaging and certain of its executive officers made a series of false and misleading statements and/or failed to disclose to investors that: (1) Electronics For Imaging was improperly recognizing revenue; (2) Electronics For Imaging’s disclosure controls and procedures were not effective; (3) Electronics For Imaging’s internal control over financial reporting were not effective; and (4) as a result, Electronics For Imaging’s public statements were materially false and misleading at all relevant times.
On August 3, 2017, Electronics For Imaging announced that it was postponing a scheduled investor conference call “in order to enable the Company to complete an assessment of the timing of recognition of revenue.” Additionally, the Company disclosed that it “expects to report a material weakness in internal control over financial reporting,” and that its “disclosure controls were not effective in prior periods.”
Following this news, shares of the Company fell $21.61 per share, or over 45%, to close on August 4, 2017 at $26.05 on heavy trading volume.
If you are a member of the class described above, you may no later than October 10, 2017 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. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
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