LOS ANGELES, April 6, 2023 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Kornit Digital Ltd. ("Kornit" or the "Company") (NASDAQ: KRNT).
Class Period: February 17, 2021 – July 5, 2022
Lead Plaintiff Deadline:April 17, 2023
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) the Company's digital printing business was beset by significant quality control problems and deficient customer service; (ii) as a result, Kornit was more vulnerable to pressure from competitors than it had represented and lacked the competitive advantages it touted to investors; and (iii) as a result of the foregoing, Kornit lost market share to competitors, which led to a decline in the Company's revenues, as Kornit's dissatisfied customers sought out alternative options for their digital printing needs.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
