NEW
YORK, March 1, 2023 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Kornit
Digital Ltd..
Shareholders who purchased shares of KRNT during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/kornit-digital-class-action-submission-form/?id=36923&from=4
CLASS PERIOD: This lawsuit is on behalf of all persons
who purchased shares of Kornit Digital common stock between
August 10, 2021, and July 5, 2022, including purchases directly in
Kornit Digital's November 19, 2021
public stock offering.
ALLEGATIONS: The complaint alleges that during the class
period, Defendants issued materially false and/or misleading
statements and/or failed to disclose that: (i) one of Kornit
Digital's largest customers, DTG2Go, a Delta Apparel, Inc.
subsidiary, was transitioning to a competitor's product offerings
for its manufacturing needs; (ii) a second key customer, Fanatics,
Inc., had decided to outsource production, a substantial portion of
which was going to producers using non-Kornit Digital systems;
(iii) as a result, Kornit Digital expected to and ultimately did
lose substantial demand for its products and services; (iv) Kornit
Digital was suffering from lessening demand for high-margin
consumables which caused Kornit Digital to suffer from an
unfavorable sales mix and lower gross margins; (v) e-commerce
demand for Kornit Digital products was slowing down as facets of
the economy reopened following the COVID-19 pandemic, which was
having a negative effect on Kornit Digital's revenue; (vi) as a
result of the foregoing, Kornit Digital's projected financial
results and market opportunity were not achievable and lacked a
reasonable basis in fact.
DEADLINE: April 18, 2023
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/kornit-digital-class-action-submission-form/?id=36923&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of KRNT during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is April 18, 2023. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law Firm is
committed to ensuring that companies adhere to responsible business
practices and engage in good corporate citizenship. The firm seeks
recovery on behalf of investors who incurred losses when false
and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
View original
content:https://www.prnewswire.com/news-releases/shareholder-alert-the-gross-law-firm-notifies-shareholders-of-kornit-digital-ltd-of-a-class-action-lawsuit-and-a-lead-plaintiff-deadline-of-april-18-2023--nasdaq-krnt-301758826.html
SOURCE The Gross Law Firm