SHAREHOLDER ALERT: Kaskela Law LLC Reminds Kulicke & Soffa Industries, Inc. Investors of Class Action Lawsuit and Important Deadline
RADNOR, Pa.--(BUSINESS WIRE)--Jun 9, 2018--Kaskela Law LLC reminds Kulicke & Soffa Industries, Inc. (“Kulicke & Soffa” or the “Company”) (NASDAQ: KLIC) investors that a class action lawsuit has been filed on behalf of investors who purchased or acquired the Company’s securities between November 16, 2017 and May 10, 2018, inclusive (the “Class Period”).
IMPORTANT DEADLINE NOTICE: Investors who purchased Kulicke & Soffa securities during the Class Period may, no later than July 10, 2018, seek to be appointed as a lead plaintiff representative of the investor class. Investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740, or via email at email@example.com, to discuss their legal rights and options with respect to this action. Additional information about this action may also be found at www.kaskelalaw.com/case/kulicke-soffa.
On May 10, 2018, Kulicke & Soffa disclosed that it had “learned of certain unauthorized transactions by a senior finance employee of the Company,” and that the Company’s “previously issued consolidated financial statements for the fiscal year ended September 30, 2017 can no longer be relied upon due to the misstated warranty accruals made in prior periods.”
Following this news, shares of the Company’s stock declined $1.80 per share, or over 7.5%, to close on May 11, 2018 at $21.99, on heavy trading volume.
The investor class action complaint alleges that the defendants made false and misleading statements and/or failed to disclose to investors that certain of the Company’s financial statements “could no longer be relied upon due to misstated warranty accruals.” The complaint further alleges that, as a result of the foregoing, investors purchased Kulicke & Soffa’s securities at artificially inflated prices during the Class Period and sustained investment losses following the Company’s May 10, 2018 disclosures.
Investors are encouraged to contact Kaskela Law LLC to discuss their legal rights and options with respect to this action. Kaskela Law LLC exclusively represents stockholders in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180609005005/en/
CONTACT: KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Radnor, PA 19087
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kaskela Law LLC
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PUB: 06/09/2018 09:30 AM/DISC: 06/09/2018 09:30 AM