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NEW YORK, — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Impinj, Inc. (“Impinj” or the “Company”) (NASDAQ: PI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Impinj securities between May 7, 2018 and August 2, 2018, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/pi.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Impinj had engaged in conduct that could lead to an employee complaint and/or Audit Committee investigation; (2) Impinj lacked adequate internal and financial controls; and (3) consequently, Defendants’ statements about Impinj’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
On August 2, 2018, Impinj revealed that it would postpone releasing its second quarter 2018 results. Impinj also said that its Audit Committee commenced an independent investigation regarding a former employee’s filed complaint. The company also contacted the Securities and Exchange Commission (“SEC”) to notify them of their independent investigation. Following this news, Impinj stock dropped $3.02 per share, or 13.7%, to close at $18.97 on August 3, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/pi or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Impinj you have until October 8, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.