Investigation Overview
An investigation on behalf of investors in Digi International Inc. (NASDAQ:DGII) stock over possible shareholder claims was announced.
Digi International Inc., located in Minnetonka, MN, operates in the communications technology industry. Digi International Inc. reported in 2007 Total Revenue of $173.26 million, in 2008 $185.06million, and in 2009 $165.93million. According to the investigation by a law firm the investigation on behalf of Digi Intl. (DGII) investors focuses on possible violations of the Foreign Corrupt Practices Act. On May 10, 2010, Digi Intl. disclosed an investigation into the possible violations of the FCPA in their quarterly report filed with the SEC. The next day Digi International Inc. disclosed the resignation of Subramanian Krishnan from all his positions with Digi International Inc., including Senior Vice President, Chief Financial Officer and Treasurer. On May 10, 2010, Digi shares prices fell from a high of $9.94 to a low of $8.79 per share, and then recovered over Tuesday and Wednesday to $9.95 per share. DGII shares were down from its 52weekHigh of $12.32 per share.