On Thursday, August 3rd, digital printing company Electronics for Imaging (NASDAQ:$EFII) announced that it will be delaying the report of its second-quarter earnings, citing an internal assessment of the company’s accounting practices. Electronics for Imaging also pushed back the quarterly conference call with analysts. “EFI expects to report a material weakness in internal control over financial reporting related to this matter,” the company stated. Electronics For Imaging is also expecting to report that its control of disclosures have been ineffective in the past.
On Friday, August 4th, Electronics for Imaging’s stock fell as much as 29% in pre-market trading, as it headed towards a four-year low. On the same day, Arons & Arons, LLC, a law firm that specializes in representing investors who are victims of securities fraud, announced that it will be conducting an investigation of Electronics for Imaging. The law firm will be investigating on behalf of Electronics for Imaging’s stockholders. Arons & Arons encourage those who wish to discuss legal options or investigations to contact the firm. Additionally, if you are an investor who has any information or knowledge that could help with the investigation, Arons & Arons encourages you to contact them.
Electronics for Imaging is a Silicon Valley, California-based company that specializes in digital printing technology.
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