NEW YORK, June 14, 2018 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Kulicke and Soffa Industries, Inc. ("Kulicke and Soffa") (NASDAQ: KLIC ) between November 16, 2017 and May 10, 2018 . You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California. To get more information go to:
http://www.zlk.com/pslra-d/kulicke-and-soffa-...inc?wire=3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.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 materially false and/or misleading statements and/or failed to disclose that: (1) Kulicke and Soffa Industries, Inc.'s consolidated financial statements for the fiscal year ending September 30, 2017 could no longer be relied upon due to misstated warranty accruals; and (2) as a result, Defendants' public statements were materially false and misleading at all relevant times.
On May 10, 2018, Kulicke and Soffa issued a press release disclosing it will not file its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission in a timely manner. The Company stated it had “learned of certain unauthorized transactions by a senior finance employee of the Company” and begun an investigation with the assistance of outside advisors. Kulicke and Soffa has also discovered “that certain warranty accruals in prior periods had been accounted for incorrectly and therefore misstated.”
If you suffered a loss in Kulicke and Soffa you have until July 10, 2018 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, 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
