NEW YORK, June 02, 2016 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into CPI Card Group, Inc. (“CPI” or the “Company”) related to potential violations of federal securities laws. CPI investors are encouraged to go to: http://www.scott-scott.com/cases/investigations/pmts.html. You can also contact Joseph Halloran at (646) 582-0121 or email jhalloran@scott-scott.com for information.
CPI engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. CPI was founded in 2007 and is headquartered in Littleton, Colorado.
On May 11, 2016, CPI announced that it missed profit and sales expectations for the quarter ended March 31, 2016 because of “much greater than anticipated” unissued card inventories at large issuers, as well as evidence of “slower than anticipated” conversions for small to mid-sized issuers.
Following this news, CPI stock fell $3.65, or more than 47%, to close at $4.01 on May 12, 2016.
WHAT YOU CAN DO
If you purchased shares of CPI stock, you may have legal claims against the Company. If you 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.