Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Identiv, Inc.

WASHINGTON, Jan. 19, 2016 (GLOBE NEWSWIRE) -- Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Identiv, Inc. (“Identiv” 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 Northern District of California by another law firm on behalf of purchasers of the common stock of Identiv, Inc. (NASDAQ:INVE) between November 7, 2013 and November 23, 2015, inclusive (the “Class Period”). 

The complaint alleges that Identiv and certain of its officers and directors (“Defendants”) made misleading statements regarding the Company's revenue recognition practices, key accounting metrics, and its internal controls.  As a result, the Complaint alleges that Defendants’ statements about Identiv’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On November 30, 2015, Identiv announced that its independent public accounting firm, BDO USA LLP, had resigned and was unwilling to be associated with the Company’s previously issued financial statements for 2015 due to disagreements with management over the scope of an internal investigation begun in May 2015 and the adequacy of the Company’s internal controls. 

On this news, the price of the Company's stock fell from a closing share price of $2.95 on November 30, 2015 to $2.49 per share on December 1, 2015, on extremely heavy trading volume.

Cohen Milstein encourages all investors who purchased Identiv common stock between November 7, 2013 and November 23, 2015, or former employees with information concerning this matter to contact the firm.

If you are an Identiv 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 February 5, 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.
Ryan Marchbank
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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