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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of November 27, 2020 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
November 20, 2020 - The court granted final approval of the settlement.
July 29, 2020 - The court preliminarily approved the settlement.
July 9, 2020 - A stipulation and agreement of settlement was entered by the parties.
October 4, 2019 - The court granted in part and denying in part the defendants' motion to dismiss.
March 19, 2019 - A motion to dismiss the consolidated complaint was filed.
February 13, 2019 - A consolidated complaint was filed.
August 7, 2018 - An investor in shares of IMPINJ Inc (NASDAQ: PI) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by IMPINJ Inc in connection with certain allegedly false and misleading statements made between May 7, 2018 and August 2, 2018.
According to the complaint the plaintiff alleges on behalf of purchasers of IMPINJ Inc (NASDAQ: PI) common shares between May 7, 2018 and August 2, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 7, 2018 and August 2, 2018, the defendants failed to disclose that the Company had engaged in conduct that could lead to an employee complaint and/or Audit Committee investigation, that the Company lacked adequate internal and financial controls, and that, as a result of the foregoing, Defendants’ statements about Impinj’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis. Seattle, WA based Impinj, Inc. is a provider of RAIN radio frequency identification (RFID) solutions. IMPINJ Inc reported that its annual Total Revenue rose from $78.48 million in 2015 to $112.29 million in 2016. Shares of IMPINJ Inc (NASDAQ:PI) reached in July 2017 as high as $59.37 per share.
On February 1, 2018, Impinj announced its preliminary fourth quarter 2017 revenue and reduced its outlook for the first quarter 2018. Additionall, IMPINJ Inc reported that long-time Chief Financial Officer Evan Fein ,who has been with the company since 2000, has decided to step down effective March 30.
On August 2, 2018, IMPINJ Inc announced that it was delaying the release of its second quarter 2018 results. IMPINJ Inc further disclosed that its Audit Committee had commenced an independent investigation in connection with a complaint filed by a former employee, and that IMPINJ Inc had contacted the Securities and Exchange Commission (“SEC”) to advise the SEC of the independent investigation.