An investigation on behalf of investors of Cognex Corporation (NASDAQ: CGNX) shares over potential securities laws violations by Cognex Corporation and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cognex Corporation (NASDAQ: CGNX) concerning whether a series of statements by Cognex Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made. Natick, MA based Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Cognex Corporation reported that its annual Total Revenue rose from $725.62 million in 2019 to $811.02 million in 2020, and that its Net Income decreased from $203.86 million in 2019 to $176.18 million in 2020. On April 23, 2021, the New York Times reported that Cognex Corporation CEO Robert Shillman was a major funder of far-right extremists in the U.K, and financially supported a violent rally in the United Kingdom on June 9, 2018, in support of far-right extremists. Shares of Cognex Corporation (NASDAQ: CGNX) closed on May 3, 2021, at $82.93 per share.