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Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Impinj, Inc. Investors

August 9, 2018

BENSALEM, Pa.--(BUSINESS WIRE)--Aug 8, 2018--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Impinj, Inc. (“Impinj” or the “Company”) (NASDAQ:  PI ) securities between  May 7, 2018 and August 2, 2018, inclusive (the “Class Period”). Impinj investors have until  October 8, 2018 to file a lead plaintiff motion.

Investors that suffered losses on their Impinj investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On August 2, 2018, Impinj announced that it was delaying the release of its second quarter 2018 results. The Company further disclosed that its Audit Committee commenced an independent investigation in connection with a complaint filed by a former employee, and that Impinj contacted the Securities and Exchange Commission (“SEC”) to advise the SEC of the independent investigation. On this news, Impinj’s share price fell $3.02 per share, or 13.7%, to close at $18.97 per share on August 3, 2018, on unusually heavy trading volume.

The complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company had engaged in conduct that could lead to an employee complaint and/or Audit Committee investigation; (2) that the Company lacked adequate internal and financial controls; and (3) 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.

If you purchased shares of Impinj during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180808005875/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2018.

PUB: 08/08/2018 08:19 PM/DISC: 08/08/2018 08:19 PM

http://www.businesswire.com/news/home/20180808005875/en

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