WILMINGTON, Del., Oct. 07, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Power Solutions International, Inc. (NASDAQ:PSIX)?
- Did you purchase your shares between May 8, 2015 and August 15, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. reminds shareholders of Power Solutions International, Inc. (“PSI” or the “Company”) (NASDAQ:PSIX) of an upcoming deadline involving a securities fraud class action lawsuit commenced against the Company. A complaint was filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities that purchased the common stock of PSI between May 8, 2015 and August 15, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company inappropriately recognized revenue for certain transactions; (2) the Company lacked adequate internal controls over financial reporting; and (3) as a result of the foregoing, PSI’s public statements were materially false and misleading at all relevant times. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
If you wish to serve as lead plaintiff, you must move the Court no later than October 21, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you purchased shares of PSI during the Class Period, or purchased shares prior to the Class Period and still hold PSI, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/power-solutions-international-inc-psix.
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