Checkpoint Systems Inc. Shareholders Are Reminded of the January 11, 2016 Deadline to Seek Lead Plaintiff Status in Pending Securities Fraud Class Action
BOSTON, Jan. 03, 2016 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is reminding investors that the deadline for seeking lead plaintiff status in the pending securities class action against Checkpoint Systems Inc. ("Checkpoint" or the "Company") (NYSE: CKP) is January 11, 2016. Investors who purchased or otherwise acquired Checkpoint securities between March 5, 2015 and November 3, 2015 (the "Class Period") are eligible for inclusion in the class action, and to be considered as lead plaintiffs.
The lawsuit already filed by Block & Leviton on November 17, 2015, captioned Meier v. Checkpoint Systems, Inc., et al, Case No. 1:15-cv-08007 (D.N.J. Nov. 11, 2015), alleges that throughout the Class Period, the defendants made false and misleading statements and failed to disclose material information, with respect to the accounting for its quarterly income tax provisions.
On November 3, 2015, Checkpoint announced in its 8-K filing with the SEC that it intended to restate certain financial statements made in its filings for the first two quarters of 2015 and that such previous statements should no longer be relied upon. The next day, in its amended 10-Q/A filing, Checkpoint restated those quarterly financial statements. As a result of the Company's restatements, Checkpoint's shares fell by more than 22% on the day the restatements were made, resulting in a loss in market capitalization of nearly $70 million.
Checkpoint investors are reminded that if they wish to become a lead plaintiff, they must file a motion by January 11, 2016.
If you are interested in becoming a lead plaintiff, have questions about your legal rights, or if you have information relevant to this investigation, please contact either attorney Steven Harte at (617) 398-5600 or by email at Steven@blockesq.com or attorney Brad Vettraino at (617) 398-5600 or by email at Bradley@blockesq.com. You may also retain counsel of your own choosing. Confidentiality for any whistleblowers or other persons with information relevant to the investigation is assured.
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