LOS ANGELES, CA / ACCESSWIRE / May 17, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Kulicke and Soffa Industries, Inc. ("Kulicke and Soffa" or the "Company") (NASDAQ: KLIC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On May 10, 2018, Kulicke and Soffa disclosed in a press release that it would not file its Quarterly Report on Form 10-Q with the SEC on time. The Company reported that it "learned of certain unauthorized transactions by a senior finance employee of the Company," and has opened an investigation. Additionally, the Company disclosed "certain warranty accruals in prior periods had been accounted for incorrectly and [were] therefore misstated." After this news hit the market, Kulicke and Soffa shares fell sharply during intraday trading.
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SOURCE: The Schall Law Firm