IMPORTANT SHAREHOLDER ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Power Solutions International, Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / August 31, 2016 / Lundin Law PC (the “Firm”) announces a class action lawsuit was filed against Power Solutions International, Inc. (“PSI” or the “Company”) (NASDAQ: PSIX) concerning possible violations of federal securities laws between May 8, 2015 and August 15, 2016 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the October 21, 2016 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that during the Class Period, PSI made false and misleading statements and/or failed to disclose that: the Company inappropriately recognized revenue for certain transactions; that the Company lacked adequate internal controls over financial reporting; and that as a result of the above, PSI’s public statements were materially false and misleading at all relevant times. On August 15, 2016, the Company announced that it would delay filing its Form 10-Q for the quarter ending June 30, 2016 because its financial statements were incomplete due to possible problems with certain transactions involving revenue recognition. When this information was disclosed, shares of PSI decreased in value.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE: Lundin Law PC