Contact Center Industry News

TMCNet:  Hagens Berman: 13 Days Remain to File for Lead Plaintiff in InnerWorkings, Inc. Securities Lawsuit and Investigation

[April 15, 2014]

Hagens Berman: 13 Days Remain to File for Lead Plaintiff in InnerWorkings, Inc. Securities Lawsuit and Investigation

BERKELEY, Calif. --(Business Wire)--

Hagens Berman Sobol Shapiro LLP advises investors of InnerWorkings, Inc. (NASDAQ:INWK) ("InnerWorkings") of the class-action lead plaintiff deadline on April 28, 2014. Investors who have suffered financial losses can contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000, emailing or by visiting Hagens Berman's website at

The securities fraud class-action lawsuit, filed on Feb. 27, 2014, on behalf of investors who purchased stock between Feb. 15, 2012 and Nov. 6, 2013 (the "Class Period"), alleges that InnerWorkings artificially inflated revenue, cash flows and adjusted EBITA.

On April 16, 2013, after the market closed, InnerWorkings revised its full year 2013 guidance "due to a reduction of work orders by a large retail client," according to the complaint. Following this news, InnerWorkings shares declined $3.55 per share or more than 25 percent.

On April 30, 2013, Prescience Point Research Group published a report recommending investors sell their InnerWorkings stock, based on allegations that the company was inflating its revenues by "misapplying gross revenue and net accounting," the complaint states. Folowing this news, InnerWorkings securities declined an additional three percent, to close at $10.07 per share on April 30, 2013.

Finally, on Nov. 6, 2013, InnerWorkings announced lower than expected earnings primarily due to issues with its Production Graphics division, but on Feb. 18, 2014, the company announced that it would need to restate its financial statements for all periods extending to the fourth quarter of 2011 through the third quarter of 2013.

"It seems as though InnerWorkings was aware of more than they initially let on," said Mr. Kathrein. "Hagens Berman is continuing its investigation into allegations that the company adjusted their finances and looks forward to speaking with persons who have information about what the company knew."

The deadline to file for lead plaintiff in a recently filed securities fraud class action is April 28, 2014. Additional information is available at

Persons with non-public information regarding InnerWorkings should consider their options to help in the investigation or take advantage of the SEC (News - Alert) Whistleblower program. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in nine cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at Read the Firm's Securities Newsletter at The firm's blog is located at

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