Hagens Berman Advises Investors of April 28, 2014, Deadline in InnerWorkings, Inc. Securities Lawsuit and Investigation

  Hagens Berman Advises Investors of April 28, 2014, Deadline in
  InnerWorkings, Inc. Securities Lawsuit and Investigation

Business Wire

BERKELEY, Calif. -- March 31, 2014

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 INWK@hbsslaw.com or by visiting Hagens
Berman’s website at http://hb-securities.com/investigations/InnerWorkings.

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. Following 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.

“When a company is trying to cover up bad business by cooking numbers and
failing to share key information, that’s the kind of misleading behavior that
sets off an alarm to investors,” said Mr. Kathrein. “Why defendants held off,
since October, identifying the real reasons they fired the previous owner
needs to be examined closely.”

The deadline to file for lead plaintiff in a recently filed securities fraud
class action is April 28, 2014. Additional information is available at
http://hb-securities.com/investigations/InnerWorkings.

Persons with non-public information regarding InnerWorkings should consider
their options to help in the investigation or take advantage of the SEC
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 www.hb-securities.com. Read the Firm’s Securities
Newsletter at http://www.hb-securities.com/newsletter. The firm’s blog is
located at www.meaningfuldisclosure.com.

Contact:

Firmani + Associates
Mark Firmani, 206-443-9357
mark@firmani.com
 
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