Securities fraud class action litigation has been filed on behalf of investors in the securities of Electronics For Imaging, Inc. (“EFII” or the “Company”) (Nasdaq: EFII). If you purchased or otherwise acquired the securities of EFII between February 22, 2017 and August 3, 2017, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than October 10, 2017.
You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.
EFII investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.
Background on the EFII Securities Class Litigation
EFII, based in Fremont, California, develops and sells digital printers and other products for manufacturing signage, packaging, textiles, ceramic tiles, and personalized documents worldwide.
The action alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) EFII engaged in improper revenue recognition practices; and (2) EFII failed to maintain adequate disclosure controls and internal control over financial reporting.
On August 3, 2017, EFII issued a press release announcing that it was assessing the timing of the recognition of revenue related to certain transactions in connection with a customer sales contract for one or more large format printers that was invoiced but not delivered to the end user. In addition, EFII revealed that it expects to report a material weakness in its internal control over financial reporting and that the Audit Committee of its Board of Directors is also reviewing the matter. As a result, EFII postponed a conference call to discuss its preliminary second quarter of 2017 financial results and warned that it may not be able to file its Form 10-Q for that quarter on a timely basis. Following this news, the price of EFII common stock fell $21.61 per share, or 45%, from its closing price of $47.66 on August 3, 2017 to close at $26.05 on August 4, 2017, on significantly elevated trading volume.
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About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”