Case: Checkpoint Systems, Inc.
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November 3, 2015  – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating Checkpoint Systems, Inc.. ("Checkpoint” or the "Company") (NYSE: CKP) for potential violations of the federal securities laws.  Investors who purchased Checkpoint securities may be affected.

 

On November 3, 2015 after the market closed, Checkpoint disclosed that it had discovered financial statement errors attributable to its accounting for its quarterly income tax provision in the first two quarters of 2015.  Based on this discovery, Checkpoint said that its previously-issued financial statements for the quarterly periods ended March 29, 2015 and June 28, 2015 should no longer be relied upon and that these previously-issued financial statements are being restated.  Based on its assessment, Checkpoint said it expects an increase in tax expenses of $5.9 million, increase in net loss of $5.9 million, and decrease in diluted earnings per share of $0.14 for the first six months of 2015. The Company also disclosed that it did not “maintain effective controls over the period and financial reporting process.”

 

On November 4, 2015, shares of Checkpoint’s stock fell $1.73 per share, or about 22.5%, to close at $5.97 per share on very heavy trading volume.


If you purchased shares of CKP during the Class Period and would like to discuss our investigation, please contact us by e-mailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling 800-290-1952.

 

 

Attorneys: Laurence D. KingPamela A. Mayer