SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of CPI Card Group Inc. - PMTS
NEW YORK, June 29, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of CPI Card Group Inc. ("CPI" or the Company) (NASDAQ: PMTS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
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The investigation concerns whether CPI and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On or about October 9, 2015, CPI completed its initial public offering (the "IPO"), priced at $10 per share, selling 15 million shares of CPI stock to the investing public. In the Company's Registration Statement for the IPO, CPI represented that CPI had a "[l]eading [m]arket [p]osition with Long-Term Customer Relationships" and noted that CPI "often" has a "deep process and technology integration" with certain of its customers. Following the IPO, CPI's largest customers significantly reduced their purchases from CPI for the quarter and year ended December 31, 2015 and the following fiscal year.
Since the IPO, CPI stock has lost nearly 55% of its value, and now trades below $5.00 per share.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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