Gainey McKenna & Egleston Announces A Class Action

NEW YORK, May 18, 2018 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Kulicke & Soffa Industries, Inc. (“Kulicke” or the “Company”) (Nasdaq: KLIC ) in the United States District Court for the Central District of California on behalf of a class consisting of investors who purchased or otherwise acquired Kulicke securities on the open market from November 16, 2017 and May 10, 2018, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements in the Company’s annual report for the fiscal year ended September 30, 2017.  More specifically, on May 10, 2018, after the market closed, the Company announced that its Quarterly Report for the quarter ended March 31, 2018 would not be timely filed due to an investigation into “certain unauthorized transactions by a senior finance employee of the Company.”  Moreover, Kulicke disclosed that certain warranty accrurals in prior periods were accounted for incorrectly.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the July 10, 2018 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com .

Please visit our website at http://www.gme-law.com for more information about the firm.