NEW YORK, June 16, 2016 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national investor rights law firm, reminds investors that August 15, 2016 is the last day to file lead plaintiff papers in the securities lawsuit against CPI Card Group, Inc. (“CPI” or “Company”) (NASDAQ:PMTS), certain of its officers and directors, the underwriters of CPI’s Initial Public Offering (“IPO”), and certain selling shareholders with violations of the Securities Act of 1933. CPI investors are encouraged to go to: http://www.scott-scott.com/cases/new/securities-fraud-litigation-2907-cpi-card-group-inc-pmts.html.
To join the action, go to: Join Action. You can also call Joseph Halloran, Esq. at (646) 582-0121 or email jhalloran@scott-scott.com for information.
CPI is a leading provider of payment card production and related services, offering a single source for credit, debit, and prepaid debit cards including “EMV” (Europay, MasterCard, and Visa) chip, personalization, instant issuance, fulfillment, and mobile payment services.
The complaint alleges that at the time of the IPO, unbeknownst to investors, the Company had shipped upwards of 100 million more cards to its larger issuer customers than they were using in the second quarter and first part of the third quarter of 2015, resulting in the buildup of a massive backlog with those customers, which was significantly reducing the demand for additional card shipments in the fourth quarter of 2015 and fiscal 2016.
What You Can Do
If you purchased shares of CPI stock, you may have legal claims against the Company. If you want to discuss filing lead plaintiff papers, or have questions about your legal rights, please contact attorney Joseph Halloran at (800) 404-7770 or (646) 582-0121, or at jhalloran@scott-scott.com.
About Scott + Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California, and Ohio. Please visit www.scott-scott.com for more information about the firm.