NEW YORK, March 27, 2023 /PRNewswire/ -- Attention Kornit Digital Ltd. ("Kornit Digital") (NASDAQ: KRNT) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons who purchased shares of Kornit Digital common stock between August 10, 2021, and July 5, 2022, including purchases directly in Kornit Digital's November 19, 2021 public stock offering.
If you suffered a loss on your investment in Kornit Digital, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/kornit-digital-ltd-loss-submission-form?prid=37635&wire=4
ABOUT THE ACTION: The class action against Kornit Digital includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) one of Kornit Digital's largest customers, DTG2Go, a Delta Apparel, Inc. subsidiary, was transitioning to a competitor's product offerings for its manufacturing needs; (ii) a second key customer, Fanatics, Inc., had decided to outsource production, a substantial portion of which was going to producers using non-Kornit Digital systems; (iii) as a result, Kornit Digital expected to and ultimately did lose substantial demand for its products and services; (iv) Kornit Digital was suffering from lessening demand for high-margin consumables which caused Kornit Digital to suffer from an unfavorable sales mix and lower gross margins; (v) e-commerce demand for Kornit Digital products was slowing down as facets of the economy reopened following the COVID-19 pandemic, which was having a negative effect on Kornit Digital's revenue; (vi) as a result of the foregoing, Kornit Digital's projected financial results and market opportunity were not achievable and lacked a reasonable basis in fact.
DEADLINE: April 17, 2023
Aggrieved Kornit Digital investors only have until April 17, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:https://www.prnewswire.com/news-releases/class-action-alert-the-law-offices-of-vincent-wong-remind-kornit-digital-investors-of-a-lead-plaintiff-deadline-of-april-17-2023-301781374.html
SOURCE The Law Offices of Vincent Wong
