NEW YORK, Feb. 7, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at InnerWorkings, Inc. ("InnerWorkings" or the "Company") (NASDAQ: INWK).
The investigation focuses on whether the Company's Board of Directors and/or its officers committed mismanagement and breached their fiduciary duties. In November 2013, the Company publicly reported that it removed Christophe Delaune ("Delaune") from his role as president of Production Graphics, the Company's French subsidiary, in October 2013. The Company also disclosed that it estimated that Delaune "issued approximately €6.9 million of fraudulent invoices in 2011 and 2012, collectively, of which €5.7 million was subsequently received by the Company." The Company stated it was "accounting for the aggregate payments of €5.7 million as a partial refund of the €7.1 million in earn-out consideration unduly paid to [Delaune]." As a result, on February 18, 2014, the Company announced that it would "make accounting corrections to restate its historical financial statements [for the periods beginning with the fourth quarter of 2011 and the year ended December 31, 2011 through the third quarter of 2013 and that the previously issued financial statements should no longer be relied upon]." Further, the restatements revealed that certain of the Company's executive officers were paid excessive compensation in 2011 and 2012.
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If you purchased InnerWorkings stock on or before February 15, 2012 and you continue to own shares of InnerWorkings stock and would like to discuss your legal rights, please visit www.faruqilaw.com/INWK. You can also contact us by calling Stuart Guber toll free at (212) 983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding InnerWorkings' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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