STEVENSON, Md., March 4, 2014 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of InnerWorkings, Inc. ("InnerWorkings" or the "Company") (Nasdaq:INWK) securities during the period between February 15, 2012 and November 6, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in InnerWorkings securities purchased on or after February 15, 2012 and held through the revelation of negative information during and/or at the end of the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff, at no cost to you, by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than April 28, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company artificially inflated its revenues and cash flows and adjusted its earnings before interest, taxes depreciation and amortization. According to the complaint, following the Company's announcement on April 16, 2013 revising its full year 2013 guidance due to a reduction of work orders by a large retail client, the April 30, 2013 publication of an analyst report asserting that the Company was inflating its revenues by misapplying gross revenue and net accounting, and the November 6, 2013 announcement by the Company of lower than expected earnings primarily due to issues with its Production Graphics division, the value of InnerWorkings shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616