On August 3, 2017, after the market closed, EFII disclosed that its audit committee is conducting an independent review related to the timing of recognition of revenue concerning "certain transactions where a customer signed a sales contract for one or more large format printers and was invoiced, and the printer(s) were stored at a third party in-transit warehouse prior to delivery to the end user."
As a result of the disclosure, EFII stock has declined approximately $19.00 per share or 41% on intraday trading on August 4, 2017.
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