Press Release
Business

Kornit Digital Ltd. (NASDAQ: KRNT) Investor Investigation over potential Wrongdoing

An investigation on behalf of investors in shares of Kornit Digital Ltd. (NASDAQ: KRNT) was announced over potential breaches of fiduciary duties by certain officers and directors at Kornit Digital Ltd. (.

Investors who purchased shares of Kornit Digital Ltd. (NASDAQ: KRNT) have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.

The investigation by a law firm concerns whether certain Kornit Digital directors breached their fiduciary duties and caused damage to the company and its shareholders.

Isreal based Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. Kornit Digital Ltd. Reported thatr ist annual Total Revenue rose from $114.08 million in 2017 to $142.37 million in 2018 and that its Net Loss of $2.01 million in 2017 turned to a Net Income of $12.42 million in 2018.

On May 7, 2019, a report was published regarding Kornit Digital Ltd., entitled “Teed Up And Printing Rebates”. The report alleged, among other issues, that Kornit Digital Ltd. was “not adequately disclosing” the terms of Amazon price rebates; that there was “a discrepancy between reported Amazon revenues in Kornit’s filings”; and Kornit Digital Ltd. had engaged in “aggressive tactic[s]” with respect to reporting the cost of warrants granted to Amazon, “which the SEC questioned, and made [Kornit] restate results.”

Shares of Kornit Digital Ltd. (NASDAQ: KRNT) declined on May, 2019 to $23.93 per share.

Those who purchased shares of Kornit Digital Ltd. (NASDAQ: KRNT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
[email protected]

About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.