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Deadline Alert: Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Impinj, Inc. (PI)

September 19, 2018

LOS ANGELES--(BUSINESS WIRE)--Sep 19, 2018--National securities litigation law firm Glancy Prongay & Murray LLP (“GPM”) reminds investors of the  October 9, 2018 deadline to file a lead plaintiff motion in the class action 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”).

If you are a shareholder who suffered a loss, click here to participate.

Investors suffering losses on their Impinj investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.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 Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects throughout the Class Period. Specifically, the complaint alleges that 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.

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If you purchased shares of Impinj during the Class Period you may move the Court no later than  October 9, 2018  to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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/20180919005873/en/

CONTACT: Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2018.

PUB: 09/19/2018 06:46 PM/DISC: 09/19/2018 06:46 PM

http://www.businesswire.com/news/home/20180919005873/en

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