STEVENSON, Md., Jan. 04, 2016 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Identiv, Inc. (Nasdaq:INVE) (“Identiv” or the “Company”) common stock during the period between November 7, 2013 and November 23, 2015, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until February 5, 2016 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in common stock purchased on or after November 7, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company common stock during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period the shortcomings of the Company’s revenue recognition practices, key accounting metrics, and internal controls.
According to the complaint, following the Company’s announcement that its independent public accounting firm resigned and that the accounting firm was unwilling to be associated with the consolidated financial statements prepared by management for the 2015 fiscal periods and that because of a disagreement between the Company’s Audit Committee and the accounting firm, the accounting firm would not complete its reviews of the interim financial information as of or for the periods ended March 31, 2015, June 30, 2015 or September 30, 2015, and also would not audit the Company’s consolidated financial statements as of and for the year ending December 31, 2015, the value of Identiv shares declined substantially.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com