Kulicke & Soffa Industries, Inc. (NASDAQ: KLIC)
Hagens Berman Sobol Shapiro LLP reminds investors in Kulicke & Soffa Industries, Inc. (NASDAQ: KLIC) of the July 10, 2018 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Central District of California.
If you purchased or otherwise acquired shares of KLIC between November 16, 2017 and May 10, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing KLIC@hbsslaw.com.
On November 27, 2017, Defendants announced that Jonathan Chou stepped down as Kulicke & Soffa’s Executive Vice President, Chief Financial Officer and Principal Accounting Officer.
On May 10, 2018, the Company notified investors it would not timely file its quarterly report for the period ended March 31, 2018, explaining it is investigating certain unauthorized transactions by a senior finance employee. Defendants also explained the Company’s financial statements for the year ended September 30, 2017 can no longer be relied upon due to misstated warranty accruals.
This news drove the price of Kulicke and Soffa shares down $1.80, or about 7.5%, to close at $21.99 on May 11, 2018.
“We’re focused on investors’ losses and which of KLIC senior officers knowingly violated Generally Accepted Accounting Principles,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding KLIC should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new 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 KLIC@hbsslaw.com.
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