Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
SAN FRANCISCO, Aug. 24, 2016 -- Hagens Berman Sobol Shapiro LLP alerts investors in Power Solutions International, Inc. (NASDAQ:PSIX) to the October 21, 2016 Lead Plaintiff deadline in the securities class action lawsuit filed in the United States District Court for the Northern District of Illinois.
To all investors in PSIX: If you purchased or otherwise acquired securities of Power Solutions International, Inc. between May 8, 2015 through August 15, 2016 and suffered significant losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/PSIX
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On August 16, 2016, Power Solutions received a delinquency notice from The Nasdaq Stock Market stating that the Company was not in compliance with listing rules because it had not filed its quarterly report on Form 10-Q for the second quarter ended June 30, 2016.
The previous day, Power Solutions announced the delayed filing with the Securities and Exchange Commission, explaining “it has not completed its financial statements in light of an ongoing review of allegations made by a former employee.” Furthermore, “[t]he review is primarily focused on certain transactions involving revenue recognition.”
In response to this news, the price of Power Solutions shares fell almost 10% to close at $13.91 per share on August 16, 2016.
“We’re investigating whether the Company recognized revenue that was not earned, a clear violation of applicable accounting rules,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Power Solutions International, Inc. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
