Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In InnerWorkings, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in InnerWorkings, Inc. (“InnerWorkings” or the “Company”) (NASDAQ: INWK) of the April 28, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against InnerWorkings and certain executives.
A complaint has been filed on behalf of all persons who purchased InnerWorkings securities between February 15, 2012 and November 6, 2013, inclusive (the “Class Period”) in the Northern District of Illinois.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that the Company: (i) inflated its revenues while violating Generally Accepted Accounting Principles; and (ii) artificially inflated its cash flows and adjusted EBITDA.
On November 6, 2013, InnerWorkings lowered its 2013 revenue and earnings per share guidance due to the performance of its Productions Graphics business.
Following this news, the Company’s stock declined $3.85 per share, or over 40%, to close at $5.64 per share on November 7, 2013.
Furthermore, on February 18, 2014, InnerWorkings announced it would need to restate its financial results beginning with the fourth quarter of 2011.
If you invested in InnerWorkings stock, bonds or options between February 15, 2012 and November 6, 2013 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding InnerWorkings’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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