| COMPANY |
Electronics for Imaging, Inc. |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
17-cv-05992 |
| JUDGE |
The Hon. Madeline Cox Arleo |
| CLASS PERIOD |
February 22, 2017 - August 3, 2017 |
| SECURITY TYPE |
All Securities |
Case Background:
On August 10, 2017, the initial complaint in this securities class action was filed against Electronics for Imaging, Inc (“Electronics for Imaging” or the “Company”), and certain of Electronic for Imaging’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of a class consisting of all investors who purchased or otherwise acquired the Electronics for Imaging securities from February 22, 2017 through August 3, 2017, both dates inclusive (the “Class Period”).
The complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was improperly recognizing revenue; (2) the Company’s disclosure controls and procedures were not effective; (3) the Company’s internal control over financial reporting were not effective; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On February 20, 2018, Lead Plaintiffs filed an Amended Complaint. Defendants filed a Motion to Dismiss the Amended Complaint on April 23, 2018. On March 13, 2019, the Court Ordered the matter closed. Lead Plaintiffs filed a Notice of Appeal on April 12, 2019. On September 24, 2019, the Third Circuit Court of Appeals dismissed the action in its entirety. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.