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Investigation announced for Long-Term Investors in shares of InnerWorkings, Inc. (NASDAQ: INWK)

08-01-2020 01:14 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in InnerWorkings, Inc. (NASDAQ: INWK) shares over potential wrongdoing at InnerWorkings.

An investigation on behalf of investors in InnerWorkings, Inc. (NASDAQ: INWK) shares over potential wrongdoing at InnerWorkings.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at InnerWorkings, Inc.

Investors who purchased shares of InnerWorkings, Inc. (NASDAQ: INWK) and currently hold any of those NASDAQ: INWK shares 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 InnerWorkings directors breached their fiduciary duties and caused damage to the company and its shareholders.

Chicago, IL based InnerWorkings, Inc., together with its subsidiaries, operates as a marketing execution firm in the United States, Canada, the United Kingdom, continental Europe, the Middle East, Africa, Asia, Mexico, Central America, and South America.
On March 16, 2020, InnerWorkings, Inc announced it’s financial and operating results for the fourth quarter and full year 2019. InnerWorkings, Inc. reported that its annual Total Revenue rose from over $1.12 billion in 2018 to over $1.15 billion in 2019, and that its Net Loss declined from $76.17 million in 2018 to $10.07 million in 2019.

The Chief Financial Officer of InnerWorkings, Inc also stated that, “[a]s a result of the material weaknesses previously disclosed, insufficient evidence existed to support the recognition of revenue in arrangements containing bill and hold provisions. Therefore, we deferred the related revenue until product shipped from our warehouse.”

Shares of InnerWorkings, Inc. (NASDAQ: INWK) declined from $5.81 per share in January 2020, to as low as $0.87 per share on March 23, 2020.

Those who purchased shares of InnerWorkings, Inc. (NASDAQ: INWK) 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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