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Robbins Arroyo LLP: Impinj, Inc. (PI) Misled Shareholders According to a Class Action

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Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Impinj, Inc. (NASDAQ:PI)
have filed a class action complaint against the company's officers and
directors for alleged violations of the Securities Exchange Act of 1934
between May 4, 2018 and August 2, 2018. Impinj operates a platform that
enables wireless connectivity to everyday items by delivering each
item's unique identity, location, and authenticity to business and
consumer applications.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/impinj-inc/

Impinj Accused of Implementing Inadequate Financial Controls

According to the complaint, Impinj told investors that the company was
increasing inventory levels to meet rising market demands and to support
its growth. To the contrary, the increased sales Impinj boasted about
were not indicative of strong demand from increased product adoption,
but the result of customers temporarily purchasing more inventory to
account for longer production lead times. As a result, on February 1,
2018, Impinj lowered its first quarter 2018 revenue guidance, resulting
in a stock drop of nearly 47%. Then, on August 2, 2018, Impinj revealed
that it was unable to timely file its Form 10-Q because the company was
investigating a complaint filed by a former employee. On this news,
Impinj's stock fell nearly 14% to close at $18.97 per share on August 3,
2018. Finally, on August 13, 2018, Impinj revealed that it had been
notified by the NASDAQ that the company was not in compliance with
NASDAQ's listing requirements because of its failure to timely file its
financial report, and that failure to bring the reports current could
result in the delisting of Impinj's common stock.

Impinj Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Robbins Arroyo LLP offers
a FREE portfolio monitoring service, Stock
Watch
.

Attorney Advertising. Past results do not guarantee a similar outcome.

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