LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the October 10, 2017 deadline in the class action lawsuit filed on behalf of investors who purchased Electronics for Imaging, Inc. (“Electronics for Imaging” or the “Company”) (NASDAQ: EFII) securities between February 22, 2017 and August 3, 2017, inclusive (the “Class Period”). Electronics for Imaging investors have until October 10, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Electronics for Imaging page on our website at www.glancylaw.com/case/electronics-imaging-inc.
On August 3, 2017, the Company issued a press release announcing the delay in releasing its second quarter 2017 preliminary results due to an internal investigation as to its accounting practices.
On this news, shares of the Company fell $21.61 per share or over 45% from its previous closing price to close at $26.05 per share on August 4, 2017, damaging investors.
The complaint filed in this class action alleges that the Company made false and/or misleading statements and/or failed to disclose that: (1) the Company was improperly recognizing revenue; (2) the Company’s disclosure controls and procedures were not effective; (3) the Company’s internal control over financial reporting were not effective; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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If you purchased shares of Electronics for Imaging during the Class Period you may move the Court no later than October 10, 2017 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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