On October 13, 2016, GlassHouse Research published an article on EFI, alleging that the EFI has used "every accounting gimmick in the book" to manipulate its earnings numbers; that "[p]ersistent material exclusions of intangible amortization expenses, stock-based compensation, restructuring/other and acquisition-related costs obfuscate EFI's sustainable earnings"; that EFI's balance sheet is "littered" with accounting indiscretions; that management knowingly misclassified long-term receivables as "other assets" and omitted them from its days sales outstanding calculation; and that EFI's projections and price targets are off due to the Company's accounting practices. Following this news, EFI stock dropped $3.54 per share, or 7.6%, to close at $43.06 on October 13, 2016.
If you are aware of any facts relating to this investigation, or if you purchased shares of EFI, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/efi or by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
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