Case Page

 

Case Status:    ONGOING    
On or around 10/11/2018 (Ongoing date of last review)

Filing Date: August 07, 2018

On August 7, 2018, Plaintiff's law firm issued a press release announcing the lawsuit. According to the press release, on August 2, 2018, Impinj announced that it was delaying the release of its second quarter 2018 results. The Company further disclosed that its Audit Committee commenced an independent investigation in connection with a Complaint filed by a former employee, and that Impinj contacted the Securities and Exchange Commission (“SEC”) to advise the SEC of the independent investigation. On this news, Impinj’s share price fell $3.02 per share, or 13.7%, to close at $18.97 per share on August 3, 2018, on unusually heavy trading volume.

The Complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company had engaged in conduct that could lead to an employee complaint and/or Audit Committee investigation; (2) that the Company lacked adequate internal and financial controls; and (3) that, as a result of the foregoing, Defendants’ statements about Impinj’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

This case was voluntarily dismissed on October 3, 2018. A related case filed under Docket 18-CV-05704 continues in the Western District of Washington.

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PI
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.
COURT: W.D. Washington
DOCKET #: 18-CV-06765
JUDGE: Hon. Dale S. Fischer
DATE FILED: 08/07/2018
CLASS PERIOD START: 05/07/2018
CLASS PERIOD END: 08/02/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
No Document Title Filing Date
COURT: W.D. Washington
DOCKET #: 18-CV-05704
JUDGE: Hon. Dale S. Fischer
DATE FILED: 08/27/2018
CLASS PERIOD START: 05/04/2017
CLASS PERIOD END: 08/02/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Hagens Berman Sobol Shapiro LLP (New Seattle)
    1918 Eighth Ave. Suite 3300, Hagens Berman Sobol Shapiro LLP (New Seattle), WA 98101
    206.623.7292 206.623.0594 ·
  2. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  3. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date
—Related District Court Filings Data is not available