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 announced by Shareholders Foundation - EconoTimes)
SAN DIEGO, Sept. 12, 2016 -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Illinois on behalf of certain purchasers of shares of Power Solutions International Inc (NASDAQ:PSIX) over alleged Securities Laws Violations by Power Solutions International. The lawsuit seeks to recover damages for certain NASDAQ:PSIX investors.
Investors who purchased shares of Power Solutions International Inc (NASDAQ:PSIX) have certain options and for certain investors there are short and strict deadlines running. Deadline: October 21, 2016. NASDAQ:PSIX investors should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Power Solutions International Inc inappropriately recognized revenue for certain transactions, that Power Solutions International Inc lacked adequate internal controls over financial reporting, and that as a result of the foregoing, that Power Solutions International Inc’s public statements were materially false and misleading at all relevant times.
On August 15, 2016 Power Solutions International Inc (NASDAQ:PSIX) announced that it requires additional time to file its Form 10-Q for the quarter ended June 30, 2016, with the Securities and Exchange Commission in order to finalize the financial statements for the quarter. Specifically, Power Solutions International Inc stated that it 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."
Those who purchased Power Solutions International Inc (NASDAQ:PSIX) shares should contact the Shareholders Foundation, Inc. by e-mail at [email protected] or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 [email protected] 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
