RM LAW, P.C. announces that a class action lawsuit has been filed in United States District Court for the Central District of California on behalf of all persons or entities that purchased PCM Inc. (“PCM” or the “Company”) (NASDAQ: PCMI) securities between June 17, 2016 and May 2, 2017, inclusive (the “Class Period”).
PCM shareholders may, no later than July 3, 2017, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of PCM and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, visit: www.maniskas.com/case/pcmi.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and failed to disclose that (1) En Pointe’s financial statements that PCM filed with the SEC materially overstated the profitability of the business; and (2) consequently, PCM’s public statements were materially false and misleading at all relevant times.
In April 2015, PCM acquired En Pointe Technologies, Inc. and publicly filed En Pointe’s supposed financial statements. On May 2, 2017, an article published on Seeking Alpha exposed that PCM has alleged that En Pointe’s net income was overstated due to several accounting shenanigans. Following this news, PCM stock dropped $2.05 per share or roughly 8% to close at $22.30 on May 2, 2017.
If you are a member of the class, you may, no later than July 3, 2017, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.