Pomerantz LLP is investigating claims on behalf of investors of InnerWorkings, Inc. ("InnerWorkings" or the "Company") (NASDAQ: INWK). Such investors are advised to contact Robert S. Willoughbyat rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether InnerWorkings and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 7, 2018, post-market, InnerWorkings "announced that it is postponing the release of its first quarter 2018 financial results and conference call due to errors in its historical financial statements identified during the course of its first quarter financial reporting close process." InnerWorkings advised investors that it "will be restating its financial statements for the years ended December 31, 2017, 2016, and 2015, and all interim periods within those years." On its preliminary assessment, InnerWorkings estimated an aggregate impact that includes a decrease in income before income taxes of $2.5 - $4.5 million for the year ended December 31, 2017, and a decrease in income before income taxes of $1.5 - $2.5 million for the year ended December 31, 2016. On this news, InnerWorkings' share price fell $0.62, or 6.4%, to close at $9.06 on May 8, 2018.