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MarketScreener Homepage  >  Equities  >  Nasdaq  >  InnerWorkings, Inc.    INWK

INNERWORKINGS, INC.

(INWK)
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Glancy Prongay & Murray LLP : Announces the Filing of a Securities Class Action on Behalf of InnerWorkings, Inc. Investors (INWK)

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06/20/2018 | 04:14pm EDT

National securities law firm Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired the securities of InnerWorkings, Inc. (“InnerWorkings” or the “Company”) (NASDAQ: INWK) between August 11, 2015, and May 7, 2018, inclusive (the “Class Period”). InnerWorkings investors have until July 9, 2018 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

Investors that suffered losses on their InnerWorkings investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) InnerWorkings' financial statements for the fiscal years ending December 31, 2017, 2016, and 2015 as well as all interim periods contained errors that required restating; and (ii) as a result, InnerWorkings' public statements were materially false and misleading at all relevant times.

On May 7, 2018, InnerWorkings disclosed that it was “postponing the release of its first quarter 2018 financial results and conference call due to errors in its historical financial statements identified during the course of its first quarter financial reporting close process.” The Company also disclosed that it would be “restating its financial statements for the years ended December 31, 2017, 2016, and 2015, and all interim periods within those years.” On this news, InnerWorkings’ share price fell 6.4% to close at $9.06 per share on May 8, 2018, thereby injuring investors.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of InnerWorkings during the Class Period you may move the Court no later than July 9, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2018
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Financials (USD)
Sales 2020 1 130 M
EBIT 2020 16,2 M
Net income 2020 -2,72 M
Debt 2020 -
Yield 2020 -
P/E ratio 2020 -25,1x
P/E ratio 2021 8,36x
Capi. / Sales2020 0,05x
Capi. / Sales2021 0,05x
Capitalization 60,8 M
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Mean consensus BUY
Number of Analysts 3
Average target price 4,50  $
Last Close Price 1,17  $
Spread / Highest target 413%
Spread / Average Target 285%
Spread / Lowest Target 156%
EPS Revisions
Managers
NameTitle
Richard S. Stoddart President, Chief Executive Officer & Director
Jack M. Greenberg Chairman
Donald W. Pearson Chief Financial Officer & Executive Vice President
Adan K. Pope Chief Technology Officer
Charles Kellogg Bobrinskoy Independent Director
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