Kornit Digital Sued for Securities Law Violations; Investors Should Contact Block & Leviton for More Information – Kornit Digital (NASDAQ:KRNT)
Boston, Massachusetts–(Newsfile Corp. – April 10, 2023) – A class action lawsuit has been filed against Kornit Digital Ltd. KRNT Securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/krnt.
What does this all mean?
The complaint claims that defendants praised Kornit’s technology and lack of competition in direct-to-garment printing markets throughout the class period. This would have allowed Kornit to retain its existing customer base and draw new customers, despite the quality control and customer service problems at its digital printing business.
Key Kornit clients Delta Apparel, Fanatics and Fanatics announced on March 28, 2022 a long-term collaboration to develop a digital printing technology.
Kornit, which reported disappointing quarter-end financial results for Q1 2022 on May 11, 2022 issued revenue guidance that was significantly lower than expectations and admitted to having prior knowledge about Delta Apparel’s acquisition of digital printing systems from another competitor. Kornit Digital stock prices fell by more than 30% as a result.
Kornit, on July 5, 2022, announced that it would report a substantial revenue shortfall for Q2-2022. This was well below the guidance issued two months ago. Kornit Digital stock fell more than 25% on this news.
Who is eligible
Anybody who bought Kornit Digital Ltd. stock in the period between February 17, 2021, and July 5, 20,22 is eligible, regardless of whether or not they have already sold their investment. Investors should contact Block & Leviton to learn more.
What next?
The deadline for appointing a lead plaintiff is April 17, 2023. You are not permitted to represent a class until it is certified. You can still be an absent member of the class if you do not take any action.
If you’ve lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at [email protected], or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have published press releases on this topic, but most do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. Through active litigation in federal courts, we are committed to recovering substantial amounts for defrauded investors. We are often hired by top institutional investors across the country to represent them. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email [email protected] with any questions.
This notice could constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1861
Boston, MA 02110
Phone: (617) 398-5600
Email: [email protected]
SOURCE: Block & Leviton LLP
www.blockleviton.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161807