SAN FRANCISCO, Dec. 28, 2015 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors of the revised February 15, 2016 lead plaintiff deadline in the securities fraud class action lawsuit filed against Identiv, Inc. (NASDAQ:INVE).
If you suffered losses because of your purchase of Identiv securities between November 7, 2013 and November 23, 2015, contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000, emailing INVE@hbsslaw.com or visiting https://www.hbsslaw.com/cases/INVE. The lawsuit was filed in the U.S. District Court for the Northern District of California and investors have until February 15, 2016 to move the court to act as lead plaintiff.
Identiv is a security technology company based in Fremont, California. On November 30, 2015, Identiv announced that its independent public accounting firm resigned and that the accounting firm was unwilling to be associated with the consolidated financial statements prepared by management for the 2015 fiscal periods. On this news, the price of Identiv common stock fell 15.59%, from a closing share price of $2.95 on November 30, 2015 to $2.49 per share on December 1, 2015 on extremely heavy trading volume, injuring investors. The share price has not recovered.
The complaint alleges that throughout the Class Period, leading up to the resignation of its accounting firm, Identiv misled investors by making false statements regarding the Company’s revenue recognition practices, key accounting metrics, and its internal controls.
Whistleblowers: Persons with non-public information regarding Identiv should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email INVE@hbsslaw.com.
About Hagens Berman
Hagens Berman is headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
Source:Hagens Berman Sobol Shapiro LLP