Press release
Investigation announced for Investors in NASDAQ: KRNT shares over possible Wrongdoing at Kornit Digital Ltd.
An investigation on behalf of investors in Kornit Digital Ltd. (NASDAQ: KRNT) shares over potential wrongdoing at Kornit Digital.
Investors who purchased shares of Kornit Digital Ltd. (NASDAQ: KRNT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Kornit Digital directors breached their fiduciary duties and caused damage to the company and its shareholders.
Isreal based Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. Kornit Digital Ltd. Reported thatr ist annual Total Revenue rose from $114.08 million in 2017 to $142.37 million in 2018 and that its Net Loss of $2.01 million in 2017 turned to a Net Income of $12.42 million in 2018.
On May 7, 2019, a report was published regarding Kornit Digital Ltd., entitled “Teed Up And Printing Rebates”. The report alleged, among other issues, that Kornit Digital Ltd. was “not adequately disclosing” the terms of Amazon price rebates; that there was “a discrepancy between reported Amazon revenues in Kornit’s filings”; and Kornit Digital Ltd. had engaged in “aggressive tactic[s]” with respect to reporting the cost of warrants granted to Amazon, “which the SEC questioned, and made [Kornit] restate results.”
Those who purchased shares of Kornit Digital Ltd. (NASDAQ: KRNT) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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