Robbins Arroyo LLP: Power Solutions International, Inc. (PSIX) Misled Shareholders According to a Recently Filed Class
Action
Shareholder rights law firm Robbins Arroyo LLP announces that a class action complaint was filed against Power Solutions International, Inc. (NASDAQCM: PSIX)
in the U.S. District Court for the Northern District of Illinois. The complaint is brought on behalf of all purchasers of Power
Solutions securities between May 8, 2015 and August 15, 2016, for alleged violations of the Securities Exchange Act of 1934 by
Power Solutions' officers and directors. Power Solutions designs, manufactures, distributes, and supports power systems and custom
engineered integrated electrical power generation systems for industrial original equipment manufacturers (OEMs) of off-highway
industrial equipment and on-road medium trucks and busses.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/power-solutions-international-inc
Power Solutions Accused of Implementing Inadequate Financial Controls
According to the complaint, throughout the class period, Power Solutions submitted several filings with the U.S. Securities and
Exchange Commission ("SEC"), certifying that the financial information was accurate and disclosed any material changes to the
company's internal control over financial reporting. However, the complaint alleges that Power Solutions officials failed to
disclose that the company inappropriately recognized revenue for certain transactions, that it lacked adequate internal controls
over financial reporting, and that as a result, the company's public statements were misleading.
On August 15, 2016, Power Solutions issued a press release announcing the company needed additional time to file its quarterly
report with the SEC for the quarter ended June 30, 2016. The company stated that it had not completed its financial statements due
to an ongoing review of allegations made by a former employee. Power Solutions stated that the review is primarily focused on
certain transactions involving revenue recognition. On this news, Power Solutions stock fell $1.52 per share, or 9.85%, to close at
$13.91 per share on August 16, 2016.
Power Solutions Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R.
Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the
shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Robbins Arroyo LLP
Darnell R. Donahue
(619) 525-3990 or Toll Free (800) 350-6003
DDonahue@robbinsarroyo.com
www.robbinsarroyo.com
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