SHAREHOLDER ALERT: Kaskela Law LLC Reminds Kulicke & Soffa Industries, Inc. Investors of Class Action Lawsuit & Important Dea...
June 09 2018 - 9:30AM
Business Wire
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 skaskela@kaskelalaw.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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180609005005/en/
KASKELA LAW LLCD. Seamus Kaskela, Esq.201 King of Prussia
RoadSuite 650Radnor, PA 19087484-258–1585888-715–1740skaskela@kaskelalaw.comwww.kaskelalaw.com
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