NEW YORK, March 28, 2023 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Kornit Digital Ltd. (NASDAQ: KRNT) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all persons who purchased shares of Kornit Digital common stock between August 10, 2021, and July 5, 2022, including purchases directly in Kornit Digital's November 19, 2021 public stock offering.
Lead Plaintiff Deadline: April 17, 2023
No obligation or cost to you.
Learn more about your recoverable losses in KRNT:
Kornit Digital Ltd. NEWS - KRNT NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Kornit Digital Ltd. made materially false and/or misleading statements and/or failed to disclose that: (i) one of Kornit Digital's largest customers, DTG2Go, a Delta Apparel, Inc. subsidiary, was transitioning to a competitor's product offerings for its manufacturing needs; (ii) a second key customer, Fanatics, Inc., had decided to outsource production, a substantial portion of which was going to producers using non-Kornit Digital systems; (iii) as a result, Kornit Digital expected to and ultimately did lose substantial demand for its products and services; (iv) Kornit Digital was suffering from lessening demand for high-margin consumables which caused Kornit Digital to suffer from an unfavorable sales mix and lower gross margins; (v) e-commerce demand for Kornit Digital products was slowing down as facets of the economy reopened following the COVID-19 pandemic, which was having a negative effect on Kornit Digital's revenue; (vi) as a result of the foregoing, Kornit Digital's projected financial results and market opportunity were not achievable and lacked a reasonable basis in fact.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Kornit Digital you have until April 17, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Kornit Digital securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the KRNT lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/kornit-digital-ltd-loss-submission-form?id=37685&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
J. Klein, Esq.
535 Fifth Avenue
New York City, NY 10017
Telephone: (212) 616-4899
SOURCE The Klein Law Firm
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