LOS ANGELES--(BUSINESS WIRE)--The Wagner Firm announces that it has filed a class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of a class (the “Class”) consisting of persons and entities that acquired Power Solutions International, Inc. (“Power Solutions” or the “Company”) (NASDAQ: PSIX) securities between January 15, 2014, and August 15, 2016, inclusive (the “Class Period”).
If you are a member of the Class described above, you may move the Court no later than October 21, 2016, to serve as lead plaintiff. Please contact Avi Wagner at (310) 491-7949, or at info@thewagnerfirm.com to discuss this matter.
The filed complaint 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 made false and/or misleading statements and/or failed to disclose: (1) that the Company was improperly recognizing revenue on certain transactions; (2) that, as a result, the Company’s financial statements were misstated during the Class Period and not presented in accordance with Generally Accepted Accounting Principles (“GAAP”); (3) that the Company lacked adequate internal controls over financial reporting; and (4) that, as a result of the foregoing, PSI’s financial statements, and Defendants’ statements about PSI’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased shares of Power Solutions during the Class Period you may move the Court no later than October 21, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Avi Wagner, Esquire, of The Wagner Firm, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 491-7949, by e-mail at info@thewagnerfirm.com.
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