On or around 01/26/2017 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: November 11, 2015
According to the law firm press release, the lawsuit alleges that throughout the Class Period, the defendants made false and misleading statements and failed to disclose material information, with respect to the accounting for its quarterly income tax provisions. On November 3, 2015, Checkpoint announced in an 8-K filing with the SEC that it intended to restate certain financial statements made in its filings for the first two quarters of 2015 and that such previous statements should no longer be relied upon.
As a result of the Company's need to restate its financial results, Checkpoint's shares fell by more than 22% on the day the restatements were made, resulting in a loss in market capitalization of nearly $70 million.
An amended complaint was filed on April 4, 2016.
This case was voluntarily dismissed on January 26, 2017.
Company & Securities Information
Defendant: Checkpoint Systems Inc.
Industry: Security Systems & Services
Headquarters: United States
Ticker Symbol: CKP
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Stephen Meier, et al. v. Checkpoint Systems Inc., et al.