NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm announces that it is investigating potential securities fraud claims against Checkpoint Systems Inc. (NYSE:CKP) resulting from allegations that Checkpoint Systems may have improperly recognized revenues in all periods between 2011 through the third quarter of 2013.
On March 6, 2014, Checkpoint Systems announced a delay in the reporting of its fourth quarter and full year 2013 earnings and other financial metrics because it needs additional time to complete the review of its financial results for those periods. On this news, shares of Checkpoint Systems fell $1.10 per share, or approximately 7%, to close at a price of $14.00 per share on March 7, 2014, damaging investors.
On March 20, 2014, Checkpoint Systems announced it is restating its financial statements for the fiscal years ended on December 25, 2011 and, December 30, 2012, and for the three months ended March 31, June 30, and September 29, 2013. The company attributed the restatements to material errors in the timing of the recognition of income related to a previous transaction in 2011. Since its March 6 disclosure, shares of Checkpoint Systems have fallen $1.60 per share, or approximately 11%, to close at a price of $13.50 per share, further damaging investors.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of Checkpoint Systems investors. If you purchased Checkpoint Systems stock before March 20, 2014, please visit the website at http://rosenlegal.com for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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