NEW YORK, April 10, 2023 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP Notifies Investors in Kornit Digital Ltd. (“Kornit Digital” or the “Company”) KRNT a securities lawsuit a class action lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Kornit Digital investors who have been harmed by alleged securities fraud. This lawsuit is on behalf of all persons who purchased common stock of Kornit Digital between August 10, 2021 and July 5, 2022, including purchases made directly in Kornit Digital’s public offering of shares on November 19, 2021. Follow the link below for more information and to be contacted by a member of our team:

https://zlk.com/pslra-1/kornit-digital-lawsuit-loss-submission-form?prid=37830&wire=3

KRNT Investors may also contact Joseph E. Levi, Esq. by email at jlevi@levikorsinsky.com or by phone at (212) 363-7500.

CASE DETAILS: The lawsuit alleges that the defendants misrepresented and/or withheld that: (i) one of Kornit Digital’s largest customers, DTG2Go, a subsidiary of Delta Apparel, Inc., relied on a competitor has switched; (ii) a second major customer, Fanatics, Inc., had chosen to outsource production, a significant portion of which went to producers using systems other than Kornit Digital; (iii) as a result, Kornit Digital anticipated, and ultimately did, a significant loss in demand for its products and services; (iv) Kornit Digital suffered from declining demand for high-margin consumables, resulting in Kornit Digital suffering from an unfavorable revenue mix and lower gross margins; (v) e-commerce demand for Kornit Digital’s products slowed as facets of the economy reopened following the COVID-19 pandemic, negatively impacting Kornit Digital’s revenues; (vi) as a result of the foregoing, Kornit Digital’s projected financial results and market opportunity were not attainable and lacked a reasonable factual basis.

WHAT’S NEXT? If you have suffered a loss…