NEW YORK, Aug. 25, 2016 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies
investors that a class action lawsuit has been filed in the United States District Court, Northern District of Illinois, against
Power Solutions International, Inc (“Power Solutions” or the “Company”) (NASDAQ:PSIX) and certain of its officers. The class
action is on behalf of a class consisting of all persons or entities who purchased Power Solutions securities between May 8, 2015
and August 15, 2016, 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”).
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, and failed to
disclose material adverse facts regarding Power Solutions’ business, operations, and prospects. Specifically, Defendants made
false and/or misleading statements 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, after-market hours, Power Solutions revealed that it needed an extension to file its quarterly report for
the quarter ended June 30, 2016. The Company said that the it has not completed its financial statements "in light of an
ongoing review of allegations made by a former employee" regarding "certain transactions involving revenue recognition." Following
this news, Power Solutions dropped $1.52 per share, or 9.85%, to close at $13.91 on August 16, 2016.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site:
http://www.bgandg.com/psix or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and
telephone number. If you suffered a loss in Power Solitions 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class
action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
