LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC (the “Firm”) announces that a class action lawsuit has been filed against Power Solutions International, Inc. (“PSI” or the “Company”) (Nasdaq: PSIX). Investors who purchased or otherwise acquired shares between May 8, 2015 and August 15, 2016 (the “Class Period”) are encouraged to contact the Firm in advance of the October 21, 2016 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we advise you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the complaint, PSI made false and misleading statements and/or failed to disclose that: the Company inappropriately recognized revenue for certain transactions; that the Company lacked adequate internal controls over financial reporting; and that as a result of the above, PSI’s public statements were materially false and misleading at all relevant times. On August 15, 2016, the Company announced that it would delay filing its Form 10-Q for the quarter ending June 30, 2016 because its financial statements were incomplete due to possible problems with certain transactions involving revenue recognition. When this news was released, shares of PSI dropped in value.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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