NEW YORK, June 29, 2018 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in InnerWorkings, Inc. (“InnerWorkings” or the “Company”) (NASDAQ:INWK) of the July 9, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in InnerWorkings stock or options between August 11, 2015 and May 7, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/INWK. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased InnerWorkings securities between August 11, 2015 through May 7, 2018 (the “Class Period”). The case, Errol Brown v. InnerWorkings, Inc. et al, No. 2:18-cv-03914 was filed on May 10, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) InnerWorkings’ financial statements for the fiscal years ending December 31, 2017, 2016, and 2015 as well as all interim periods contained errors that required restating; and (2) InnerWorkings’ financial statements were materially false and misleading at all relevant times.
Aftermarket on May 7, 2018, InnerWorkings issued a press release disclosing that many of the Company’s historical financial statements contained errors and that it “will be restating its financial statements for the years ended December 31, 2017, 2016, and 2015, and all interim periods within those years.”
On this news, InnerWorkings’s share price fell from $9.68 per share on May 7, 2018 to a closing price of $9.06 on May 8, 2018—a $0.62 or a 6.4% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding InnerWorkings’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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