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Important Information Regarding Section 20(a) Individual Liability Claims
NEW YORK, April 23, 2026 /PRNewswire/ -- SueWallSt alerts investors in Power Solutions International, Inc. (NASDAQ: PSIX) of a pending securities class action. Class Period: May 8, 2025 through March 2, 2026. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com | (888) SueWallSt.
PSIX shares fell $24.84 per share, or nearly 29%, on March 3, 2026, after the Company disclosed an 8% year-over-year gross margin collapse driven by operating inefficiencies it had previously minimized. The Court has set May 19, 2026 as the deadline to apply for lead plaintiff appointment.
The Named Individual Defendants
Two senior officers of Power Solutions are named as individual defendants in this securities class action: Dino Xykis, who served as Chief Executive Officer at all relevant times, and Xun Li, who served as Chief Financial Officer at all relevant times. The action contends that both executives possessed the power and authority to control the contents of the Company's SEC filings, press releases, and presentations to analysts and institutional investors.
Section 20(a) Control Person Framework
Section 20(a) of the Securities Exchange Act of 1934 imposes liability on individuals who control entities that violate the federal securities laws. The complaint charges that Xykis and Li, by virtue of their senior positions, had access to material non-public information about deteriorating manufacturing margins and supply chain problems, and knew that the Company's public statements characterizing production inefficiencies as merely "temporary" were materially misleading.
Sarbanes-Oxley Certification Obligations
As CEO and CFO, Xykis and Li were required under Sections 302 and 906 of the Sarbanes-Oxley Act to personally certify the accuracy of Power Solutions' quarterly and annual reports filed with the SEC. The pleading asserts that the following certifications were made while material facts were allegedly being concealed:
Scienter Allegations
The lawsuit asserts that both individual defendants were provided copies of the Company's reports and press releases prior to issuance and had the ability to prevent their release or cause corrections. As averred in the complaint, Xykis and Li knew that adverse facts about escalating manufacturing costs and supply chain failures had not been disclosed to the investing public.
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives certify SEC filings, they accept personal responsibility for the truthfulness of those disclosures." -- Joseph E. Levi, Esq.
Speak with an attorney about recovering damages or call (212) 363-7500.
Levi & Korsinsky, LLP -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.
CONTACT:
SueWallSt
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (888) SueWallSt
Fax: (212) 363-7171
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SOURCE SueWallSt.com
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