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NEW ORLEANS, March 10, 2023 /PRNewswire/ – ClaimsFiler, a FREE service that provides information to shareholders, reminds investors that they have until April 17, 2023 To file lead plaintiff applications in securities-class action lawsuits against Kornit Digital Ltd. (“Company”) (NasdaqGS : KRNT), if the Company’s shares were purchased between February 17, 2021 And July 5, 2022, inclusive (the “Class period”) includes purchases directly in the Company’s stores November 2021 public stock offer (the “Offering”)  These actions are still pending The United States District Court for the District of New Jersey.

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Kornit investors should visit us at https://claimsfiler.com/cases/nasdaq-krnt/ or call toll-free (844) 367-9658.  Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuits

Kornit Digital, along with certain of its executives, are being charged with failing disclosure of material information during the Class period and/or in Registration Statement to the Offering. This violates federal securities laws. 

On May 11, 2022The Company reported a net loss in the amount of $5.2 million Comparable to a profit in 1Q 2022 $5.1 Million The revenue guidance for 2Q 20202 was significantly lower than analysts’ expectations due a slowdown in order intakes.  The Company also admitted that it knew for at least two quarters that one of its largest customers had purchased services from a competitor. Kornit shares fell by this news $18.78 Per share, or 33%

Then, on July 5, 2022The Company reported expected revenue for 2Q2022, in the range of $56.4 million To $59.4 MillionThis is significantly lower than the previous revenue guidance of between $85 Million And $95 MillionAccording to the company, this was due to “a significantly slower pace for direct-to–garment (DTG), systems orders in quarter two than compared with our prior expectations.”  Kornit shares fell further on this news. $8.10 per share or 25.7%

The first case filed is Genesee County Employees’ Pension System v. Kornit Digital Ltd. No. 23-cv-888. A case subsequently, Cleveland Bakers And Teamsters Pension Fund v. Kornit Digital Ltd., No. No. 23-cv-971 was filed.

About ClaimsFiler

ClaimsFiler was created with one mission in mind: to be the information source that helps retail investors recover their share from settlements for securities class action lawsuits. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

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SOURCE ClaimsFiler