Boston, Massachusetts–(Newsfile Corp. – March 22, 2023) – A class action lawsuit has been filed against Kornit Digital Ltd. KRNT Securities law violations. Investors who bought shares but have lost money are encouraged by the firm to get in touch To learn more about the ways they can recover these losses, visit https://www.blockleviton.com/cases/krnt For more details, visit https://www.blockleviton.com/cases/krnt.
What does this all mean?
The complaint claims that defendants praised Kornit’s technology and lack of competition in direct-to-garment printing markets throughout the class period. This would have allowed Kornit to retain its existing customer base and draw new customers, despite the quality control and customer service problems at its digital printing business.
Key Kornit clients Delta Apparel, Fanatics and Fanatics announced on March 28, 2022 that they had entered into a long-term collaboration to develop a digital printing technology.
Kornit announced disappointing quarterly financial results for Q1 2022. It also issued revenue guidance at a significantly lower level than expected. Kornit also admitted that it knew of Delta Apparel purchasing digital printing systems from a rival. The price of Kornit Digital stock fell more than 30% on this news.
Kornit, on July 5, 2022, announced it would report a substantial revenue shortfall in Q2 2022. This was well below the guidance that had been issued two months ago. Kornit Digital stock price fell by more than 25% upon this announcement.
Who is eligible
Anybody who purchased Kornit Digital Ltd. stock in the period between February 17, 2021, and July 5, 20,22 is eligible, regardless of whether or not they have already sold their investment. Investors should contact Block & Leviton to learn more.
What are your next steps?
April 17, 2023, is the deadline to apply for appointment as lead plaintiff. You are not permitted to represent a class until it is certified. You can still be an absent member of the class if you do not take any action.
If you’ve lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at [email protected], or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Although many law firms have released information about the matter, most don’t actually handle securities class actions. Block & Leviton is a law firm that actually litigates cases. We work in active litigation before the federal courts to recover substantial amounts on behalf of investors who have been defrauded. Many of the nation’s leading institutional investors have hired us to represent them. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email [email protected] with any questions.
This notice could be considered attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St. Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: [email protected]
SOURCE: Block & Leviton LLP
www.blockleviton.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159426