NEW ORLEANS, March 21, 2023 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they still have time April 17, 2023 Filing of Lead Plaintiff’s Motions in Securities Class Actions Against Kornit Digital Ltd. (the company”) KRNTif they purchased the Company’s shares between February 17, 2021 and July 5, 2022 inclusive (the “Collection Period”), including purchases made directly in the Company’s public offering of shares in November 2021 (the “Offering”). The lawsuits are pending in the United States District Court for the District of New Jersey.

What you can do

If you have purchased Kornit stock and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn toll-free, without obligation and at no cost to you, at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-krnt/ to learn more. If you wish to appear as a lead plaintiff in the class action, you must file an application with the court April 17, 2023.

About the lawsuits

Kornit Digital and certain of its officers are alleged to have failed to disclose material information during the Class Period and/or in the Offering Registration Statement in violation of federal securities laws.

On May 11, 2022, the Company announced a net loss of $5.2 million for the first quarter of 2022 (compared to a profit of $5.1 million in the same period last year) and revenue guidance for the second quarter of 2022 known, which were well below analysts’ expectations due to a slowdown in incoming orders. The company also admitted that for at least the prior two quarters it was aware that one of its key customers had been sourcing services from a competitor. On the news, Kornit shares fell $18.78 per share, or 33%.

Then, on July 5, 2022, the Company announced expected Q2 2022 revenues in the range of $56.4 million to $59.4 million, well below the previous…