NEW YORK, March 25, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of InnerWorkings, Inc. INWK, resulting from allegations that InnerWorkings may have issued materially misleading business information to the investing public.
On March 16, 2020, InnerWorkings issued a press release which provided, among other things, a quote from the Company's Chief Financial Officer, stating, in relevant part, that "[a]s a result of the material weaknesses previously disclosed, insufficient evidence existed to support the recognition of revenue in arrangements containing bill and hold provisions. Therefore, we deferred the related revenue until product shipped from our warehouse."
On this news, InnerWorkings' stock price fell $0.36 per share, or over 17%, to close at $1.68 per share on March 17, 2020.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by InnerWorkings investors. If you purchased shares of InnerWorkings please visit the firm's website at http://www.rosenlegal.com/cases-register-1815.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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