The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Kornit Digital Ltd. (Kornit or the Company) (NASDAQ: KRNT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Spruce Point Capital Management published a report on May 7, 2019, focusing on Kornit. The report, titled, Teed Up And Printing Rebates, alleges that the Company was not adequately disclosing the terms on Amazon price rebates. The report adds that there is a discrepancy between reported Amazon revenues in Kornits filings, and that the Company engaged in aggressive tactics regarding accounting for its business with Amazon, which the SEC questioned, and made [Kornit] restate results. Based on this news, shares of Kornit fell more than 9% on the same day.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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