Lawsuit for Investors in Electronics For Imaging, Inc. (NASDAQ: EFII) Shares Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / August 29, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who purchased NASDAQ: EFII shares against Electronics For Imaging, Inc. over alleged Securities Laws Violations.

Investors who purchased shares of Electronics For Imaging, Inc. (NASDAQ: EFII) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

On October 13, 2016, a report was published on Electronics For Imaging, Inc., alleging, among other things, that the Company has used “every accounting gimmick in the book” to tweak its earnings numbers; that “[p]ersistent material exclusions of intangible amortization expenses, stock-based compensation, restructuring/other and acquisition-related costs obfuscate Electronics For Imaging, Inc.’s sustainable earnings”; that the Company’s balance sheet is “littered” with accounting irregularities; that management intentionally misclassified long-term receivables as “other assets” and excluded them from its days sales outstanding calculation; and that Electronics For Imaging, Inc.’s current projections and price targets are out of line with reality due to the Company’s accounting practices.

On August 3, 2017, Electronics For Imaging, Inc. notified investors that it was postponing a conference call at which it anticipated discussing second quarter 2017 preliminary results. Electronics For Imaging, Inc. was delaying the call to enable the Company to complete an assessment of the timing of recognition of revenue. Additionally, Electronics For Imaging, Inc. stated that it was completing an assessment of the effectiveness of current and historical disclosure controls and internal control over financial reporting. Electronics For Imaging, Inc. stated that it expects to report a material weakness in internal control over financial reporting related to this matter. The Company also expects to report that disclosure controls were not effective in prior periods.

On August 10, 2017, a lawsuit was filed against Electronics For Imaging, Inc. over alleged violations of securities laws. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Electronics For Imaging was improperly recognizing revenue, that Electronics For Imaging’s disclosure controls and procedures were not effective, that Electronics For Imaging’s internal control over financial reporting were not effective, and that as a result, Electronics For Imaging’s public statements were materially false and misleading at all relevant times.

Those who purchased Electronics For Imaging, Inc. (NASDAQ: EFII) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 474044