WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Checkpoint Systems, Inc. (NYSE: CKP)?
- Did you purchase your shares between March 5, 2015 and November 3, 2015, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities that purchased the common stock of Checkpoint Systems, Inc. (“Checkpoint Systems” or the “Company”) (NYSE: CKP) between March 5, 2015 and November 3, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Checkpoint Systems during the Class Period, or purchased shares prior to the Class Period and still hold Checkpoint Systems, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to firstname.lastname@example.org; or at: http://rigrodskylong.com/investigations/checkpoint-systems-inc-ckp-lawsuit.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on November 3, 2015, the Company announced that during the preparation of the third quarter financial statements, it discovered financial statement errors attributable to the accounting for its quarterly income tax provision. As a result of these errors, on November 2, 2015, the Audit Committee concluded that the unaudited financial statements for the quarterly period ended March 29, 2015, the quarterly period ended June 28, 2015 and the year-to-date period ended June 28, 2015 contained in the Company's Quarterly Reports on Form 10-Q for the quarterly period ended March 29, 2015 and the quarterly period ended June 28, 2015 should no longer be relied upon due to the effect of financial statement errors that are attributable to an error in the accounting for the Company's quarterly income tax provision. Accordingly, investors should no longer rely upon the Company's previously-issued financial statements for these periods and any earnings releases or other Company communications relating to these periods.
On this news, shares in Checkpoint Systems dropped over 22%, closing at $5.97 per share on November 4, 2015, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than January 11, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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