SAN DIEGO, Oct. 16, 2019 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential
claims on behalf of Impinj, Inc. (NASDAQ: PI) ("Impinj" or the
"Company") against certain of its officers and directors.
Specifically, a class action lawsuit pending in the United States District Court for the
Western District of Washington
against Impinj and certain of its current and former officers
recently survived, in part, certain defendants' attempts to have
the case dismissed. Impinj sells a platform comprised of integrated
circuits with memory chips, connective devices, and software that
can be used to tag and wirelessly connect everyday items to the
digital world.
According to the class-action lawsuit, between July 21, 2016 and February
15, 2018, defendants touted the Company's platform's ability
to identify a tagged item's unique location with a margin of error
of 1.5 feet and claimed this accuracy would allow the Company to
tap into valuable new markets, including healthcare. However, the
class action complaint alleges that the platform was not able to
accurately locate tagged items, which Impinj's officers knew and
failed to disclose prior to Impinj's initial public offering and
throughout the relevant time period. This, according to the class
action complaint, caused certain public statements made by
defendants regarding the Company's business, operations, and
prospects to be materially false and misleading when made. On
October 3, 2019, U.S. District Court
Judge Robert S. Lasnik denied in
part Impinj's motion to dismiss lead plaintiffs' claims, allowing
the class action litigation to proceed.
If you are a current, long-term shareholder of Impinj, you may
have standing to hold Impinj harmless from the alleged harm caused
by the officers and directors of the Company by making them
personally responsible. You may also be able to assist in reforming
the Company's corporate governance to prevent future
wrongdoing.
If you are interested in learning more about your legal rights
and remedies, please contact Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If you
email, please include your phone number.
Additionally, if you are a current, long-term holder of Impinj
stock, you can [Click here to join this action]. There is no cost
or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a
nationally recognized shareholder rights law firm with offices in
California, New York and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonfistel.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson
Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[Click here to join this action]
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SOURCE Johnson Fistel, LLP