KORNIT DIGITAL SHAREHOLDER ALERT – CLAIMSFILER REMINDS INVESTORS WHO HAVE LOST MORE THAN $100,000 to the Lead Plaintiff Deadline in Class Action Lawsuits against Kornit Digital Ltd.

NEW ORLEANS, Feb. 24, 2023 /PRNewswire/ ClaimsFiler reminds shareholders 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 July 5, 2022, inclusive (“Class Period”), which includes purchases made directly in the Company’s stores November 2021 public stock offering (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 and some of its executives were charged with failing to disclose material data during the Class Period, and/or in Registration Statement for the Offering. This is a violation of federal securities laws. 

On May 11, 2022The Company reported a net loss at $ 0 $5.2 Million 1Q 2022 (compared with a profit $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 plunged 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 well below the revenue guidance of between $85 Million $95 MillionIt attributed this to “a significantly slower pace in direct-to-garment systems orders in the second half of the year compared to our previous expectations.” Kornit shares fell further on this news. $8.10 per share or 25.7%

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

ClaimsFiler

ClaimsFiler’s mission is to provide information to help retail investors get their share of billions from securities class actions settlements. 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