We are investigating InnerWorkings, Inc. (INW) (“InnerWorkings” or the “Company”) for potential violations of the federal securities laws.
On March 16, 2020, InnerWorkings issued a press release announcing the Company’s financial and operating results for the fourth quarter and full year 2019. Therein, the Company’s Chief Financial Officer stated, in relevant part, that “[a]s a result of the material weaknesses previously disclosed, insufficient evidence existed to support the recognition of revenue in arrangements containing bill and hold provisions. Therefore, we deferred the related revenue until product shipped from our warehouse.” On this news, InnerWorkings’ stock price fell sharply during intraday trading on March 17, 2020.