Cases
Power Solutions International, Inc. (NASDAQ : PSIX)
Securities Class Action
Overview
Overview
- Date:
- 8/18/2016
- Company Name:
- Power Solutions International, Inc.
- Stock Symbol:
- PSIX
- Status:
- Closed/Complete
NEW YORK, August 18, 2016 – Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Power Solutions International, Inc. (NASDAQ: PSIX) stockholders concerning whether the company’s officers and board of directors violated the federal securities laws.
The investigation concerns whether Power Solutions and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 15, 2016, after the market closed, Power Solutions disclosed that the Company needed additional time to file its quarterly report for the quarter ended June 30, 2016 with the Securities and Exchange Commission. Specifically, Power Solutions stated that the Company has not completed its financial statements "in light of an ongoing review of allegations made by a former employee" concerning "certain transactions involving revenue recognition."
On this news, Power Solutions stock fell $1.52 per share, or 9.85%, to close at $13.91 on August 16, 2016.
If you acquired Power Solutions International, Inc. securities or continue to hold shares purchased, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The investigation concerns whether Power Solutions and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 15, 2016, after the market closed, Power Solutions disclosed that the Company needed additional time to file its quarterly report for the quarter ended June 30, 2016 with the Securities and Exchange Commission. Specifically, Power Solutions stated that the Company has not completed its financial statements "in light of an ongoing review of allegations made by a former employee" concerning "certain transactions involving revenue recognition."
On this news, Power Solutions stock fell $1.52 per share, or 9.85%, to close at $13.91 on August 16, 2016.
If you acquired Power Solutions International, Inc. securities or continue to hold shares purchased, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.