NEW YORK, Sept. 06, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Power Solutions International, Inc. (“Power Solutions”) (NASDAQ: PSIX ) between May 8, 2015 and August 15, 2016 . You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Northern District of Illinois. To get more information go to :
http://www.zlk.com/pslra/power-solutions-international-inc
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Power Solutions improperly listed revenue for certain transactions; (2) Power Solutions did not have sufficient controls over financial reporting; and (3) consequently, Power Solutions’ public statements were materially false and misleading at all relevant times.
On August 15, 2016, Power Solutions announced that it needed additional time to file its Form 10-Q for the quarter ended June 30, 2016 in order to finalize financial statements for the quarter. Specifically, the Company stated that it has not completed its financial statements “in light of an ongoing review of allegations made by a former employee” concerning “certain transactions involving revenue recognition.”
If you suffered a loss in Power Solutions you have until October 21, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
