KORNIT DIGITAL INVESTOR ADVISORY: April 17, 2023 Plaintiff Filing Deadline in Securities Class Action - Contact Lieff Cabraser

SAN FRANCISCO, CA / ACCESSWIRE / April 13, 2023 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages shareholders in Kornit Digital Ltd. ("Kornit" or the "Company") who suffered losses from trading Kornit ordinary shares (NASDAQ:KRNT) pursuant to Kornit's 11/19/2021Secondary Public Offering ("SPO") and/or between February 17, 2021 and July 5, 2022 to contact our securities fraud practice group immediately regarding the pending securities fraud class action against Kornit. The final date toapply to be a lead plaintiff is April 17, 2023.

Class Period: February 17, 2021 - July 5, 2022

Lead Plaintiff Motion Deadline: April 17, 2023

Case information: lieffcabraser.com/securities/kornit

Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358

The action alleges that defendants made false and/or misleading statements and/or failed to disclose that Kornit's digital printing business was plagued by severe quality control problems and customer service deficiencies, that those problems and deficiencies caused Kornit to lose market share to competitors and negatively impacted the company's revenue as customers went elsewhere for their digital printing needs.

On March 28, 2022, two of Kornit's major customers announced that they had been working for months with Kornit's chief competitors to develop a new digital printing technology which would directly compete with Kornit's products and services.

On May 11, 2022, Kornit announced a surprise loss for 1Q 2022 and issued disappointing revenue guidance for 2Q 2022 attributable to a slowdown in orders in Kornit's e-commerce segment. On this news, the price of Kornit ordinary shares declined 33.29% to close at $37.63 on May 11, 2022, on heavy trading volume.

On July 5, 2022, Kornit announced that it would report a significant revenue shortfall for 2Q 2022 due to a slowdown in orders for its direct-to-garment printing systems. On this news, the price of Kornit ordinary shares fell 25.7% to close at 23.46 on July 6, 2022, on extremely heavy trading volume.

About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $127 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.

CONTACT:
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com

SOURCE: Lieff Cabraser Heimann & Bernstein

ACCESSWIRE

News network reaching more than 1,500 media outlets in 98 countries. The newest, fastest-growing and most disruptive newswire available today.