Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Identiv, Inc. To Contact The Firm Before Imminent Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Identiv, Inc. (“Identiv” or the “Company”) (NasdaqCM:INVE) of the February 5, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
A lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Identiv securities between November 7, 2013 and November 23, 2015 (the “Class Period”). The case, Ana Ruggiero v. Identiv, Inc., et al, No. 5:15-cv-05583 was filed on December 7, 2015, and has been assigned to Judge Lucy Haeran Koh.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that the Company engaged in inappropriate revenue recognition practices leading to misstated key accounting metrics.
Specifically, during post-market hours of November 30, 2015, Identiv announced that its independent registered public accounting firm, BDO USA, LLP (“BDO”), had resigned from that role. BDO further announced that it would not complete its reviews of the interim financial information for the periods ended March 31, 2015, June 30, 2015 or September 30, 2015 and that it would not audit Identiv’s consolidated financial statements for fiscal year 2015. BDO cited a disagreement with the Company’s Audit Committee as the reason for its resignation.
After the announcement, Identiv’s share price fell $0.46 to close at $2.49 per share, a 15.59% drop, on December 1, 2015.
If you invested in Identiv securities between November 7, 2013 and November 23, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Identiv’s 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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