Market Overview

Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Impinj, Inc.


Geller Rudman & Dowd LLP
today announced that a class action has been commenced on behalf of
purchasers of Impinj, Inc. (NASDAQ:PI) publicly traded securities during
the period between May 4, 2017 and August 2, 2018 (the "Class Period").
This action was filed in the Western District of Washington and is
captioned Montemarano v. Impinj, Inc., et al., No. 18-cv-1264.

The Private Securities Litigation Reform Act of 1995 permits any
investor who purchased Impinj publicly traded securities during the
Class Period to seek appointment as lead plaintiff. A lead plaintiff
acts on behalf of all other class members in directing the litigation.
The lead plaintiff can select a law firm of its choice. An investor's
ability to share in any potential future recovery is not dependent upon
serving as lead plaintiff. If you wish to serve as lead plaintiff, you
must move the Court no later than 60 days from August 7, 2018. If you
wish to discuss this action or have any questions concerning this notice
or your rights or interests, please contact plaintiff's counsel, Darren
of Robbins Geller at 800/449-4900 or 619/231-1058, or via
e-mail at You can
view a copy of the complaint as filed at

The complaint charges Impinj and certain of its officers and directors
with violations of the Securities Exchange Act of 1934. Impinj sells
integrated circuit ("IC") tags ("tag ICs"), which, when connected to an
item, are called endpoints. These endpoints function as a tag system
that provides wireless information about tagged items. Impinj also sells
reader ICs that enable wireless communication with the tag ICs.

The complaint alleges that throughout the Class Period, defendants made
materially false and misleading statements and/or failed to disclose
adverse information regarding Impinj's business, operations and
prospects. Specifically, the complaint alleges defendants failed to
disclose that the addition of large customers in 2016 had driven a
contraction in Impinj's ability to fulfill its production obligations,
which resulted in lead times between 10 and 12 weeks instead of the
normal baseline time range of 4 to 6 weeks; that increased sales of IC
endpoints were not indicative of strong demand being driven by increased
product adoption, but rather, they were the result of customers
purchasing increased inventory to account for extended production lead
times; and that Impinj lacked adequate accounting and reporting
controls. As a result of this information being withheld from the
market, Impinj securities traded at artificially inflated prices during
the Class Period, with its stock price reaching a high of more than $59
per share.

On February 1, 2018, Impinj announced it was reducing its revenue
guidance and that its long-time CFO had resigned. On this news, the
price of Impinj common stock declined more than $10 per share, or nearly
47%, to close at $12.16 per share on February 2, 2018. Then on August 2,
2018, Impinj announced that it was delaying the release of its second
quarter 2018 results. The Company also disclosed that in response to
having received a complaint from a former employee, the Audit Committee
of its Board of Directors had commenced an independent investigation and
had retained independent counsel to assist in the investigation. Impinj
stated that it could not "predict the duration or outcome of the
investigation, and [would] not be in a position to file [its] Form 10-Q
until the Audit Committee complete[d] its investigation." Impinj also
announced preliminary second quarter 2018 financial results that day,
disclosing that it had reduced its inventory balance by $1.4 million. On
this news, Impinj's share price fell $3.02 per share, or nearly 14%, on
August 3, 2018.

Plaintiff seeks to recover damages on behalf of all purchasers of Impinj
publicly traded securities during the Class Period (the "Class"). The
plaintiff is represented by Robbins Geller, which has extensive
experience in prosecuting investor class actions including actions
involving financial fraud.

Robbins Geller is one of the world's leading law firms representing
investors in securities litigation. With 200 lawyers in 10 offices,
Robbins Geller has obtained many of the largest securities class action
recoveries in history. For five consecutive years, ISS Securities Class
Action Services has ranked the Firm in its annual SCAS Top 50 Report as
one of the top law firms in both amount recovered for shareholders and
total number of class action settlements. Robbins Geller attorneys have
helped shape the securities laws and recovered tens of billions of
dollars on behalf of aggrieved victims. Beyond securing financial
recoveries for defrauded investors, Robbins Geller also specializes in
implementing corporate governance reforms, helping to improve the
financial markets for investors worldwide. Please visit
for more information.

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