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BOSTON, May 07, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, is investigating whether Kornit Digital Ltd. (“Kornit” or the “Company”) (NASDAQ: KRNT) and certain of its officers and directors violated federal securities laws.
On May 7, 2019, Spruce Point Capital Management released a report titled “Teed Up And Printing Rebates.” The report alleges that “105% of 2018 operating cash flow came from Amazon gross payments” and that there “is a discrepancy between reported Amazon revenues in Kornit filings.”
The report also states that certain of Kornit’s “aggressive tactics” have been investigated by the Securities and Exchange Commission and that Kornit had to restate certain results.
The report further states that Kornit has been concealing the extent of its exposure to certain risks related to Cimpress N.V. which revealed in late January 2019 that it is under severe pressure and going through a management shakeup.
Following this news, Kornit’s share price dropped more than 10%.
We are investigating the possibility of filing a lawsuit against Kornit. If you have purchased or otherwise acquired Kornit securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (888) 868-2385, by email at firstname.lastname@example.org, or by visiting http://shareholder.law/cases/?case=kornit.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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