Electronics For Imaging, Inc. Securities Litigation
On or around 04/16/2019 (Other)
Filing Date: August 10, 2017
According to the law firm press release, the lawsuit alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was improperly recognizing revenue; (2) the Company’s disclosure controls and procedures were not effective; (3) the Company’s internal control over financial reporting were not effective; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On December 6, 2017, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on February 20, 2018. Defendants filed a Motion to Dismiss the amended Complaint on April 23. On January 31, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On March 4, Plaintiffs filed notice of intent not to file a second amended Complaint. The Court closed the case on March 13. Plaintiffs filed a notice appealing the Court's dismissal Order on April 12.
Company & Securities Information
Defendant: Electronics For Imaging, Inc.
Industry: Computer Peripherals
Headquarters: United States
Ticker Symbol: EFII
Company Market: NASDAQ
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
Anthony Pipitone, et al. v. Electronics For Imaging, Inc., et al.