Cases
Kornit Digital Ltd. (NASDAQ: KRNT)
Securities Class Action
Overview
Overview
- Date:
- 5/7/2019
- Company Name:
- Kornit Digital Ltd.
- Stock Symbol:
- KRNT
- Status:
- Closed/Complete
NEW YORK, May 7, 2019 – Bragar Eagel & Squire, P.C. is investigating potential claims against Kornit Digital Ltd. (NASDAQ: KRNT) on behalf of Kornit stockholders. Our investigation concerns whether Kornit has violated the federal securities laws and/or engaged in other unlawful business practices.
On May 7, 2019, Spruce Point Capital Management released a report titled “Teed Up And Printing Rebates.” The report alleges that “105% of [Kornit’s] 2018 operating cash flow came from Amazon gross payments” and that there “is a discrepancy between reported Amazon revenues in Kornit filings.”
The report also states that certain of Kornit’s “aggressive tactics” have been investigated by the Securities and Exchange Commission and that Kornit had to restate certain results. The report further claims that Kornit has been concealing the extent of its exposure to certain risks related to Cimpress N.V. which revealed in late January 2019 that it is under severe pressure and going through a management shakeup.
On this news, Kornit’s share price fell by more than 10%, closing at $25.51 on May 7, 2019.
If you purchased or otherwise acquired Kornit shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On May 7, 2019, Spruce Point Capital Management released a report titled “Teed Up And Printing Rebates.” The report alleges that “105% of [Kornit’s] 2018 operating cash flow came from Amazon gross payments” and that there “is a discrepancy between reported Amazon revenues in Kornit filings.”
The report also states that certain of Kornit’s “aggressive tactics” have been investigated by the Securities and Exchange Commission and that Kornit had to restate certain results. The report further claims that Kornit has been concealing the extent of its exposure to certain risks related to Cimpress N.V. which revealed in late January 2019 that it is under severe pressure and going through a management shakeup.
On this news, Kornit’s share price fell by more than 10%, closing at $25.51 on May 7, 2019.
If you purchased or otherwise acquired Kornit shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.