NEW YORK, May 07, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Kornit Digital Ltd. (KRNT) on behalf of Kornit stockholders. Our investigation concerns whether Kornit has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 7, 2019, Spruce Point Capital Management released a report titled “Teed Up And Printing Rebates.” The report alleges that “105% of [Kornit’s] 2018 operating cash flow came from Amazon gross payments” and that there “is a discrepancy between reported Amazon revenues in Kornit filings.”
The report also states that certain of Kornit’s “aggressive tactics” have been investigated by the Securities and Exchange Commission and that Kornit had to restate certain results. The report further claims that Kornit has been concealing the extent of its exposure to certain risks related to Cimpress N.V. which revealed in late January 2019 that it is under severe pressure and going through a management shakeup.
On this news, Kornit’s share price fell by more than 10%, closing at $25.51 on May 7, 2019.
If you purchased or otherwise acquired Kornit shares and suffered a loss, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Kornit please go to http://www.bespc.com/krnt/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.