The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of PCM Inc. (NASDAQ: PCMI) who purchased shares between June 17, 2015 and May 2, 2017. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) En Pointe Technologies, Inc.'s financial statements that PCM filed with the SEC materially overstated the profitability of the business; and (2) consequently, PCM's public statements were materially false and misleading at all relevant times. In April 2015, PCM acquired En Pointe Technologies, Inc. and publicly filed En Pointe's financial statements. On May 2, 2017, an article published on Seeking Alpha exposed that PCM has filed a lawsuit counterclaim alleging that En Pointe's net income was overstated and that "Had PCM known the truth about En Pointe's finances, it would not have entered into the purchase agreement" for En Pointe.
Shareholders have until July 3, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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