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Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Impinj, Inc.

October 2, 2018

LOS ANGELES, Oct. 02, 2018 (GLOBE NEWSWIRE) -- National class action 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”). Impinj investors have until October 9, 2018, to file a lead plaintiff motion.

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

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 plaintiff. 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.

ContactsGlancy Prongay and Murray LLP, Los Angeles Lesley Portnoy, 310-201-9150 or 888-773-9224 www.glancylaw.comshareholders@glancylaw.com

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