Digital textile printing champion Kornit Digital, listed on the US NASDAQ exchange, is now the subject of a shareholder class action, with several US law firms vying to become 'lead plaintiff.' Over the past year, Kornit stock has declined by 65% and the class action claims that the company did not disclose issues with quality, forcing even a major shareholder to purchase 'competitive' equipment. Amazon.com is also a shareholder in Kornit Digital, and yet runs some of the Austrian Aeoon DTG machines.
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| The Kornit Atlas is one of many DTG solutions offered by Kornit Digital |
US Law firms thus far identified as encouraging Kornit Digital stockholders who have lost large (USD$100,000+) sums of money, include:
Rosen Global Investment Counsel
Bernstein Litowitz, Berger & Grossman
Shareholders who invested between February 17, 2021 and July 5, 2022, inclusive (the ''Class Period''), are encouraged to contact one of the firms before April 17, 2023, the deadline for class action registration. Typically, only one Lead Plaintiff will be appointed, acting on behalf of all the shareholders who register in time with one of the above firms.
The class action news comes as a shock because Kornit shares have been rallying recently, but still around 65% lower than a year ago. The 'competitor' equipment installed by one of Kornit's major investors is reportedly M&R Printing's Maverick or Polaris, represented in Australia by Screen Print specialists Raw Tech Solutions.
