NEW YORK, April 5, 2023 /PRNewswire/ — The Gross Law Firm issues the following notice to shareholders of Kornit Digital Ltd.
Shareholders who purchased shares of KRNT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
PERIOD CLASS: This lawsuit is on behalf of all persons who purchased shares of Kornit Digital common stock between August 10, 2021and July 5, 2022including purchases directly in Kornit Digital’s November 19, 2021 public stock offering.
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) one of Kornit Digital’s largest customers, DTG2Go, a Delta Apparel, Inc. subsidiary, was transitioning to a competitor’s product offerings for its manufacturing needs; (ii) a second key customer, Fanatics, Inc., had decided to outsource production, a substantial portion of which was going to producers using non-Kornit Digital systems; (iii) as a result, Kornit Digital expected to and ultimately did lose substantial demand for its products and services; (iv) Kornit Digital was suffering from lessening demand for high-margin consumables which caused Kornit Digital to suffer from an unfavorable sales mix and lower gross margins; (v) e-commerce demand for Kornit Digital products was slowing down as facets of the economy reopened following the COVID-19 pandemic, which was having a negative effect on Kornit Digital’s revenue; (vi) as a result of the foregoing, Kornit Digital’s projected financial results and market opportunity were not achievable and lacked a reasonable basis in fact.
DEADLINE: April 17, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/kornit-digital-class-action-submission-form/?id=38096&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of KRNT during the timeframe listed above, you will be enrolled in a portfolio of monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is April 17, 2023. There is no cost or obligation for you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incur losses when false and/or misleading statements or the omission of material information by a company leads to artificial inflation of the company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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Phone: (646) 453-8903
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SOURCE The Gross Law Firm