The Rosen Law Firm Announces Investigation of Securities Claims Against Checkpoint Systems Inc. – CKP
March 20 2014 - 6:22PM
Business Wire
The Rosen Law Firm announces that it is investigating potential
securities fraud claims against Checkpoint Systems Inc. (NYSE:CKP)
resulting from allegations that Checkpoint Systems may have
improperly recognized revenues in all periods between 2011 through
the third quarter of 2013.
On March 6, 2014, Checkpoint Systems announced a delay in the
reporting of its fourth quarter and full year 2013 earnings and
other financial metrics because it needs additional time to
complete the review of its financial results for those periods. On
this news, shares of Checkpoint Systems fell $1.10 per share, or
approximately 7%, to close at a price of $14.00 per share on March
7, 2014, damaging investors.
On March 20, 2014, Checkpoint Systems announced it is restating
its financial statements for the fiscal years ended on December 25,
2011 and, December 30, 2012, and for the three months ended March
31, June 30, and September 29, 2013. The company attributed the
restatements to material errors in the timing of the recognition of
income related to a previous transaction in 2011. Since its March 6
disclosure, shares of Checkpoint Systems have fallen $1.60 per
share, or approximately 11%, to close at a price of $13.50 per
share, further damaging investors.
The Rosen Law Firm is preparing a securities class action
lawsuit on behalf of Checkpoint Systems investors. If you purchased
Checkpoint Systems stock before March 20, 2014, please visit the
website at http://rosenlegal.com for more information. You may also
contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm
toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
The Rosen Law Firm P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue 34th FloorNew York, New York
10016Tel: 212-686-1060Toll Free: 1-866-767-3653Fax:
212-202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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