NEW YORK, Nov. 12, 2015 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Checkpoint Systems, Inc. (“Checkpoint” or the “Company”) (NYSE: CKP ) and certain of its officers. The class action, filed in United States District Court, District of New Jersey, is on behalf of a class consisting of all persons or entities who purchased Checkpoint securities between March 5, 2015 and November 3, 2015 inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
If you are a shareholder who purchased Checkpoint securities during the Class Period, you have until January 11, 2016 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com . To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Checkpoint manufactures and markets labeling systems and solutions for a diverse customer base, providing RF source tagging, barcode labeling systems, electronic article surveillance, handheld labeling systems, and retail merchandising systems for applications within the automatic identification industry.
The Complaint alleges that throughout the Class Period, defendants made false and misleading statements and failed to disclose material information, with respect to the accounting for its quarterly income tax provisions.
On November 3, 2015, Checkpoint filed a Form 8-K with the SEC (“November 3 8-K”), including an Item 4.02(a), Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review, in which it announced that it had discovered errors attributable to the accounting for the quarterly income tax provisions in its recently reported financial results.
Checkpoint’s common stock price plunged in reaction to this news, its closing price falling by $1.73 per share, or 22%, between November 3, 2015 and November 4, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT: CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com
