NASDAQ CM
PSIX

Power Solutions International, Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Power Solutions International, Inc. (NASDAQ CM: PSIX)

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities that purchased the common stock of Power Solutions International, Inc. (“PSI” or the “Company”) (NASDAQ CM: PSIX) between May 8, 2015 and August 15, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of PSI during the Class Period, or purchased shares prior to the Class Period and still hold PSI, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company inappropriately recognized revenue for certain transactions; (2) the Company lacked adequate internal controls over financial reporting; and (3) as a result of the foregoing, PSI’s public statements were materially false and misleading at all relevant times.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on August 15, 2016, after the market closed, the Company issued a press release and filed a Current Report on Form 8-K with the SEC, announcing that the Company needed additional time to file its quarterly report for the quarter ended June 30, 2016 with the SEC.  In the Form 8-K, the Company stated that “[t]he additional time is needed for the Company to complete a review and finalize the financial statements for the second quarter. . . . The review is primarily focused on certain transactions involving revenue recognition.”

On this news, shares of PSI dropped over 9%, closing at $13.91 per share on August 16, 2016, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than October 21, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Attorney advertising.  Prior results do not guarantee a similar outcome.