NEW YORK, July 21, 2016 (GLOBE NEWSWIRE) -- Scott + Scott, Attorneys at Law, LLP, a global investor rights law firm, notifies investors that a securities lawsuit has been filed on behalf of investors in CPI Card Group, Inc. (Nasdaq:PMTS). CPI Card Group investors are encouraged to contact Scott + Scott at (866) 326-5057 or email gjohnson@scott-scott.com to discuss their legal rights.
About the Lawsuit
The complaint alleges that CPI Card Group violated securities laws by failing to disclose material information in documents issued pursuant to the IPO. At the time of the IPO, unbeknownst to investors, the Company had shipped over 100 million more cards than its largest customers were using in the second and third quarters of 2015. This created a huge backlog which resulted in a substantial reduction of demand for additional cards for the remainder of the 2015 fiscal year.
If you suffered a loss in CPI Card Group you have until August 15, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
What you can do
If you purchased shares of CPI Card Group stock, you may have legal claims against the Company. If you want to discuss the case, or have questions about your legal rights, please contact Geoffrey M. Johnson, Esq. or Joseph Halloran, Esq. by telephone at (866) 326-5057 or by email at gjohnson@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.