NEW YORK, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against InnerWorkings, Inc. (NASDAQ: INWK) on behalf of InnerWorkings stockholders. Our investigation concerns whether InnerWorkings has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 16, 2020, InnerWorkings issued a press release announcing the Company’s financial and operating results for the fourth quarter and full year 2019. Therein, the Company’s Chief Financial Officer stated, in relevant part, that “[a]s a result of the material weaknesses previously disclosed, insufficient evidence existed to support the recognition of revenue in arrangements containing bill and hold provisions. Therefore, we deferred the related revenue until product shipped from our warehouse.”
On this news, InnerWorkings’ stock price fell $0.36 per share, or 17.65%, to close at $1.68 per share on March 17, 2020.
If you purchased or otherwise acquired InnerWorkings shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.