Lawsuit Overview
January 26, 2017 - The case was voluntarily dismissed.
May 19, 2016 - A motion to dismiss the amended complaint was filed.
April 4, 2016 - An amended complaint was filed.
November 11, 2015 - An investor in shares of Checkpoint Systems Inc (NYSE: CKP) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Checkpoint Systems Inc in connection with certain allegedly false and misleading statements made between March 5, 2015 and November 3, 2015.
According to the complaint the plaintiff alleges on behalf of purchasers of Checkpoint Systems Inc (NYSE: CKP) common shares between March 5, 2015 and November 3, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 5, 2015 and November 3, 2015 defendants made false and misleading statements and failed to disclose material information, with respect to the accounting for its quarterly income tax provisions.
On November 3, 2015, Checkpoint Systems Inc disclosed that during the preparation of the third quarter financial statements, Checkpoint Systems Inc discovered financial statement errors attributable to the accounting for its quarterly income tax provision. Checkpoint Systems Inc said that it intends to restate its previously-issued financial statements for the quarterly periods ended March 29, 2015 and June 28, 2015 and the six month period ended June 28, 2015 through the filing of amended Quarterly Reports on Form 10-Q/A for the quarterly periods ended March 29, 2015 and June 28, 2015.
Shares of Checkpoint Systems Inc (NYSE: CKP) declined on November 4, 2015 to as low as $5.07 per share.
On November 13, 2015, NYSE: CKP shares closed at $6.11 per share.