IRVINE, Calif., Aug. 17, 2017 (GLOBE NEWSWIRE) -- Khang & Khang LLP (the “Firm”) announces the filing of a securities class action lawsuit against Electronics for Imaging, Inc. (“Electronics for Imaging” or the “Company”) (Nasdaq:EFII). Investors who purchased or otherwise acquired shares between February 22, 2017 and August 3, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the October 10, 2017 lead plaintiff motion deadline.
If you purchased Electronics for Imaging shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, throughout the Class Period, Electronics for Imaging made false and/or misleading statements and/or failed to disclose: that the Company was improperly recognizing revenue; that the Company’s disclosure controls and procedures were not effective; that the Company’s internal control over financial reporting were not effective; and thus, the Company’s public statements were materially false and misleading at all relevant times. On August 3, 2017, Electronics for Imaging notified investors that it was postponing a conference call in which it anticipated discussing second quarter 2017 preliminary results. The Company announced that its audit committee is conducting an independent review of the effectiveness of disclosure controls and internal controls over financial reporting. The problems identified by the audit committee include assessing timing of revenue recognition related to certain transactions, and therefore the Company may not be able to file its quarterly report on time. When this news reached the public, shares of Electronics for Imaging fell in value materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
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