An investigation on behalf of investors of Matthews International Corp (NASDAQ:MATW) shares over potential securities laws violations by Matthews International and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Matthews International Corp (NASDAQ:MATW) concerning whether a series of statements by Matthews International regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Pittsburgh, PA based Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. Matthews International Corp reported that its Total Revenue rose from over $1.48 billion for the 12 months period that ended on September 30, 2016 to over $1.51 billion for the 12 months period that ended on September 30, 2017 and that its Net Income for those respective time periods increased from $66.75 million to $74.37 million.

Shares of Matthews International Corp (NASDAQ:MATW) grew from $46.70 per share in February 2016 to as high as $76.845 per share in December 2016.

On November 11, 2017, a report was published asserting that, following a 'forensic financial review' of Matthews International Corp, it had identified, among other issues, 'operational problems, declining financial performance, [and] accounting and financial control weakness' at the Company. Specifically, the report stated, in part, that Matthews International Corp had concealed the fact that two large acquisitions 'have failed miserably to deliver', 'taken classic measures to obscure its problems such as realigning segment reporting and promoting highly 'adjusted' figures', and had 'serious financial control issues and governance concerns.'

Shares of Matthews International Corp (NASDAQ:MATW) declined on January 111, 2018 to as low as $50.10 per share.