NEW YORK, May 14, 2018 /PRNewswire/ -- WeissLaw LLP, a national class action, shareholder rights law firm with offices in New York, Los Angeles, and Atlanta, announces an investigation of Kulicke & Soffa Industries, Inc. (the "Company" or "KLIC") (NASDAQ: KLIC). The investigation focuses on possible breaches of fiduciary duty and violations of federal securities laws.
On May 10, 2018, the Company issued a press release announcing that it would be unable to file its quarterly report with the SEC in a timely manner as a result of recently discovered unauthorized transactions made by a senior employee. Additionally, KLIC also reported that its financial statements for the fiscal year ended September 30, 2017 could not be relied upon due to issues relating to the improper accounting of warranty accruals. Following the announcement, KLIC shares traded for as low as $21.58, or $2.21 less than the Company's May 10 closing price of $23.79.
WeissLaw is investigating whether KLIC's Board (1) failed to meet the recordkeeping requirements and accounting provisions established by federal securities laws; (2) failed to establish and/or maintain comprehensive internal controls to safeguard against financial reporting errors; and consequently, (3) reported materially false and misleading public statements. If you own KLIC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact Joshua Rubin of WeissLaw LLP at (888)593-4771, or by e-mail at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/kulicke-soffa-industries-inc/
SOURCE WeissLaw LLP