NEW YORK, Nov. 8, 2016 /PRNewswire/ -- Tripp Levy PLLC, a law firm representing investors nationwide seeking to recover money lost due to investment fraud, announces that a securities class action lawsuit has been filed against InfuSystem Holdings, Inc. (NYSE: INFU) in the United States District Court for the Central District of California. The lawsuit is on behalf of investors who purchased InfuSystem common stock between May 12, 2015 and November 7, 2016, inclusive (the "Class Period") and alleges violations of federal securities laws by defendants.
According to the lawsuit, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) InfuSystem lacked effective internal control over financial reporting; (2) InfuSystem's financial statements dating back to the beginning of 2015 overstated the estimated accounts receivable collections which in turn overstated revenues and pre-tax income by a corresponding amount; (3) InfuSystem's financial statements dating back to the beginning of 2015 could no longer be relied upon; and (4) as a result of the foregoing, the InfuSystem's financial statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff for the class, you must file a motion with the Court no later than January 9, 2017. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you have investment losses in InfuSystem and would like to discuss your rights regarding this matter, or if you wish to share information about the matter, you may contact us either by email at email@example.com or by telephone at 800.511.7037 or visit our website at www.tripplevy.com/participate-in-an-action.
Tripp Levy PLLC represents individuals and institutional shareholders in shareholder matters and has assisted in the recovery of millions of dollars for shareholders in securities actions around the globe.
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SOURCE Tripp Levy PLLC