NEW YORK, NY / ACCESSWIRE / August 11, 2017 / Pomerantz LLP is investigating claims on behalf of investors of Electronics for Imaging, Inc. ("EFI" or the "Company") (NASDAQ: EFII). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether EFI for Imaging and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 3, 2017, EFI notified investors that the Company was postponing a conference call, at which it had anticipated discussing preliminary second quarter 2017 financial and operating results, to enable the Company to complete an assessment of the timing of recognition of revenue. EFI also stated that it was completing an assessment of the effectiveness of current and historical disclosure controls and internal control over financial reporting. EFI advised investors that it "expects to report a material weakness in internal control over financial reporting related to this matter" and that "EFI also expects to report that disclosure controls were not effective in prior periods."
On this news, EFI's share price has fallen as much as $20.15, or 42.28%, during intraday trading on August 4, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP