The Shuman Law Firm Investigates Power Solutions International, Inc.
The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and
directors of Power Solutions International, Inc. (“Power Solutions” or the “Company”) (OTC: PSIX). Power Solutions provides 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.
Power Solutions investors filed a class action complaint against the Company for alleged violations of the Securities Exchange
Act of 1934 between February 27, 2014 and February 2, 2017. The complaint alleges that Power Solutions “routinely and
systematically engaged in extremely aggressive sales practices and fraudulent “pull-forward” revenue recognition schemes in order
to prematurely recognize sales and revenue in violation of Generally Accepted Accounting Principles (“GAAP”), the SEC Rules, and
the Company’s own stated policies.” Moreover, the complaint also alleges that “a number of the most egregious accounting violations
were engineered and directed by Gary S. Winemaster the CEO and Co-founder of the Company.” On August 15, 2016, Power Solutions
disclosed during after-hours trading that it needed additional time to file its Form 10-Q for the quarter ending June 30, 2016,
with the SEC. In this release, the Company stated that it had not completed its financial statements “in light of an ongoing review
of allegations made by a former employee” concerning “certain transactions involving revenue recognition.” The Company has yet to
file its restated financial statements with the SEC, has been delisted from Nasdaq and currently trades OTC.
If you currently own Power Solutions common stock and are interested in discussing your rights, or have information relating to
this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.
The Shuman Law Firm
Kip B. Shuman, Esq., 866-569-4531
kip@shumanlawfirm.com
or
Rusty E. Glenn, Esq., 866-569-4531
rusty@shumanlawfirm.com
Fax: 303-536-7849
www.shumanlawfirm.com
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