The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Electronics for Imaging, Inc. (NASDAQ: EFII) who purchased shares between February 22, 2017 and August 3, 2017. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) the Company was improperly recognizing revenue; (2) the Company’s disclosure controls and procedures were not effective; (3) the Company’s internal control over financial reporting were not effective; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. On August 3, 2017, the Company announced that it would postpone its conference call to discuss second quarter 2017 preliminary results “in order to enable the Company to complete an assessment of the timing of recognition of revenue.” Electronics for Imaging is also assessing the effectiveness of its “current and historical disclosure controls and internal control over financial reporting.”
Shareholders have until October 10, 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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