LOS ANGELES, CA / ACCESSWIRE / June 7, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Kulicke and Soffa Industries, Inc. ("Kulicke and Soffa" or the "Company") (NASDAQ: KLIC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On May 10, 2018, Kulicke and Soffa disclosed in a press release that it would not file its Quarterly Report on Form 10-Q with the SEC on time. The Company reported that it "learned of certain unauthorized transactions by a senior finance employee of the Company," and has opened an investigation. Additionally, the Company disclosed "certain warranty accruals in prior periods had been accounted for incorrectly and [were] therefore misstated." After this news hit the market, Kulicke and Soffa shares fell sharply during intraday trading.
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The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm