LOS ANGELES -- (Business Wire)
Lundin Law PC announces a class action lawsuit has been filed against
CPI Card Group, Inc. ("CPI" or the "Company") (Nasdaq: PMTS). Investors
who purchased or otherwise acquired shares traceable to the Company's
October 8, 2015 initial public offering (“IPO”), should contact the Firm
in advance of the August 15, 2016, lead plaintiff motion deadline.
To participate in this class action lawsuit, please contact Brian
Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or via e-mail at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class is
certified, you are not considered represented by an attorney. You may
also choose to do nothing and be an absent class member.
According to the complaint, the Company failed to disclose that it
disseminated over 100 million more cards than its biggest customers were
using in the second and third quarters of 2015. This created a huge
backlog which resulted in a substantial reduction of demand for
additional cards for the remainder of the 2015 fiscal year. This would
likely impact CPI’s profitability and thus should have been disclosed in
the Registration Statement. When the truth was revealed, shares dropped
causing investors harm.
Lundin Law PC was created by Brian Lundin, a securities litigator based
in Los Angeles.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160624005798/en/
Contacts:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile:
888-713-1125
brian@lundinlawpc.com
Source: Lundin Law PC
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