LOS ANGELES, Aug. 16, 2017 /PRNewswire/ -- Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Electronics for Imaging, Inc. ("Electronics for Imaging" or the "Company") (Nasdaq: EFII) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between February 22, 2017 and August 3, 2017, inclusive (the "Class Period"), are encouraged to contact the firm before October 10, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm's website at http://www.goldberglawpc.com/, or by email at [email protected].
The class in this case has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that throughout the Class Period, Electronics for Imaging made false and/or misleading statements and/or failed to disclose: that the Company was improperly recognizing revenue; that its disclosure controls and procedures were not effective; that the Company's internal control over financial reporting were not effective; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times.
On August 3, 2017, Electronics for Imaging notified investors that it was postponing a conference call in which it anticipated discussing second quarter 2017 preliminary results. The Company announced that its audit committee is conducting an independent review of the effectiveness of disclosure controls and internal controls over financial reporting. The problems identified by the audit committee include assessing timing of revenue recognition related to certain transactions, and therefore the Company may not be able to file its quarterly report on time. Following this news, the stock price of Electronics for Imaging dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE Goldberg Law PC