SAN DIEGO & FREMONT, Calif.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Electronics for Imaging, Inc. (NasdaqGS: EFII) breached their fiduciary duties to shareholders. Electronics for Imaging provides industrial format display graphics, label and packaging, textile, and ceramic tile decoration digital inkjet printers worldwide.
View this press release on the firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/electronics-for-imaging/
Electronics for Imaging Accused of Improperly Recognizing Revenue
Purchasers of Electronics for Imaging have filed a securities class action complaint for alleged violations of the Securities Exchange Act of 1934 by the company's officers and directors from February 22, 2017 through August 3, 2017. According to the complaint, Electronics for Imaging made a series of public statements representing that the company had effective internal controls over financial reporting, while at the same time improperly recognizing revenue. On August 3, 2017, Electronics for Imaging announced a delay in releasing its second quarter 2017 preliminary results due to an internal investigation as to its accounting practices. On this news, shares of Electronics for Imaging fell $21.61 per share, or over 45%, to close at $26.05 per share on August 4, 2017 and have yet to retain their value.
Electronics for Imaging Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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