WASHINGTON, D.C., Dec. 16, 2015 (GLOBE NEWSWIRE) — Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Checkpoint Systems, Inc. (“Checkpoint” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
A class action lawsuit was filed in the U.S. District Court for the District of New Jersey by another law firm on behalf of purchasers of the common stock of Checkpoint Systems, Inc. (NYSE:CKP) between March 5, 2015 and November 3, 2015, inclusive (the “Class Period”).
The complaint alleges that Checkpoint and certain of its officers and directors (“Defendants”) made false and misleading statements and failed to disclose material information with respect to the Company’s accounting for its quarterly income tax provisions.
The claims in this case followed Checkpoint’s restatement of its financial results for the first two quarters of 2015 due to an error in its accounting for quarterly income tax provisions, and the disclosure of a material weakness in its internal controls “surrounding the inclusion or exclusion of entities with valuation allowances.”
The restatement resulted in a significant increase in the Company’s previously reported loss per share for the first and second quarters of this year. The price of Checkpoint shares fell from $7.70 to $5.97 on November 4, 2015, in heavy trading.
Cohen Milstein encourages all investors who purchased Checkpoint common stock between March 5, 2015 and November 3, 2015, or former employees with information concerning this matter to contact the firm.
If you are a Checkpoint shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at [email protected]. If you wish to serve as lead plaintiff, you must move the Court no later than January 11, 2016, to request appointment. Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.
Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation. Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over two billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.
If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Steven J. Toll, Esq.
Rhys Tucker
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Suite 500 East
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: [email protected]; [email protected]
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