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Investor Alert: Kaplan Fox Announces Investigation Of Impinj, Inc.

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Investor Alert: Kaplan Fox Announces Investigation Of Impinj, Inc.

PR Newswire

NEW YORK, Aug. 22, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Impinj, Inc. ("Impinj" or the "Company") (NASDAQ:PI).  Investors who purchased Impinj securities between May 7, 2018 and August 2, 2018 (the "Class Period") may be affected.  A complaint has been filed in the United States District Court for the Central District of California against Impinj and certain executives on behalf of investors that acquired Impinj securities during the Class Period.

According to the complaint, Impinj claims that it is working to deliver a platform that powers item-to-cloud connectivity, enabling developers to innovate Internet-of-Things, or IoT, applications.

On August 2, 2018, Impinj announced that it was delaying the release of its second quarter 2018 results for the quarter ended June 30, 2018.  Additionally, the Company disclosed that the Audit Committee of Impinj's Board of Directors has commenced an independent investigation in connection with a complaint filed by a former employee.  Impinj also disclosed that that the Company "will not be in a position" to file its Form 10-Q until the Audit Committee completes its investigation, and that it has contacted the Securities and Exchange Commission ("SEC") to advise the SEC that an independent investigation is underway.

According to the complaint, on this news, Impinj's share price fell $3.02 per share, or 13.7%, to close at $18.97 per share on August 3, 2018 on unusually heavy trading volume.

If you are a member of the proposed Class, you may move the court no later than October 9, 2018 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

 

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SOURCE Kaplan Fox & Kilsheimer LLP

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