RADNOR, PA / ACCESSWIRE / July 7, 2018 / Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against InnerWorkings, Inc. (INWK) ("InnerWorkings" or the "Company") on behalf of purchasers of the Company's common stock between August 11, 2015 and May 7, 2018, inclusive (the "Class Period").
FINAL DEADLINE ALERT: Investors who purchased InnerWorkings' common stock during the Class Period may, no later than July 9, 2018, seek to be appointed as a lead plaintiff representative of the investor class.
InnerWorkings investors are encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 to discuss their important legal rights and options with respect to this action prior to July 9, 2018. Investors may also go to http://kaskelalaw.com/case/innerworkings-inc/ to submit their information to the firm online.
On May 7, 2018, InnerWorkings disclosed that it was "postponing the release of its first quarter 2018 financial results and conference call due to errors in its historical financial statements identified during the course of its first quarter financial reporting close process." Additionally, the Company disclosed that it "will be restating its financial statements for the years ended December 31, 2017, 2016, and 2015, and all interim periods within those years." Following this news, shares of the Company's stock declined $0.62 per share, or over 6.4%, to close at $9.08 on May 8, 2018, on heavy trading volume.
The shareholder class action complaint alleges that InnerWorkings and certain other defendants made false and misleading statements and/or failed to disclose to investors that: (i) the Company's financial statements for fiscal years 2015, 2016 and 2017 contained errors that required restating; and (ii) the Company's financial statements were materially false and misleading at all relevant times. The complaint further alleges that, as a result of the foregoing, investors purchased InnerWorkings' common stock at artificially inflated prices during the Class Period and suffered significant investment losses following the Company's May 7, 2018 disclosures.
InnerWorkings investors are encouraged to contact Kaskela Law LLC to discuss their legal rights and options with respect to this action prior to July 9, 2018. Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
SOURCE: Kaskela Law LLC