SAN DIEGO, Nov. 28, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in California on behalf of certain purchasers of shares of InfuSystem Holdings Inc (NYSEMKT:INFU) over alleged Securities Laws Violations by InfuSystem Holdings Inc.
Investors who purchased shares of InfuSystem Holdings Inc (NYSEMKT:INFU) have certain options and for certain investors there are short and strict deadlines running. Deadline: January 9, 2017. (NYSEMKT:INFU) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that InfuSystem Holdings Inc lacked effective internal control over financial reporting, that InfuSystem Holdings Inc’s financial statements dating back to the beginning of 2015 overstated the estimated accounts receivable collections which in turn overstated revenues and pre-tax income by a corresponding amount, that InfuSystem Holdings Inc’s financial statements dating back to the beginning of 2015 could no longer be relied upon, and that as a result of the foregoing, the InfuSystem Holdings Inc’s financial statements were materially false and misleading at all relevant times.
On November 7, 2016, InfuSystem Holdings Inc revealed that “the Company's audited financial statements for the fiscal year ended December 31, 2015, and the Company's unaudited financial statements for each of the fiscal quarters ended March 31, 2015 through June 30, 2016 should no longer be relied upon," citing "an error related to an overstatement of estimated accounts receivable collections which in turn overstated revenues and pre-tax income by a corresponding amount." InfuSystem Holdings Inc also said that its "Audit Committee believes that material adjustments to the Financial Statements are required and that the Company will need to restate the Financial Statements."
Those who purchased InfuSystem Holdings Inc (NYSEMKT:INFU) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.