| COMPANY |
Kornit Digital Ltd. |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
23-cv-00888 |
| JUDGE |
The Hon. Madeline Cox Arleo |
| CLASS PERIOD |
February 17, 2021 and July 5, 2022 |
| SECURITY TYPE |
Securities |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Kornit Digital Ltd. (“Kornit”) (NASDAQ: KRNT) securities between February 17, 2021 and July 5, 2022, both dates inclusive (the “Class Period”).
The 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 failed to disclose to investors that: (1) Kornit’s digital printing business was beset by significant quality control problems and deficient customer service; (2) as a result, Kornit was more vulnerable to pressure from competitors than it had represented and lacked the competitive advantages it touted to investors; and (3) as a result of the foregoing, Kornit lost market share to competitors, which led to a decline in the company’s revenues, as Kornit’s dissatisfied customers sought out alternative options for their digital printing needs.
Current Status of Case:
On May 10, 2023, the Court granted the Lead Plaintiff’s motion to withdraw from the action. This action is ongoing.
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: Jonathan 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.