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NASDAQ: IZEA Long Term Investor Alert: Investigation of Potential Wrongdoing at IZEA, Inc.

Via: ReleaseWire

Updated 11:00 AM CDT, Wed, October 31,2018

An investigation on behalf of current long term investors in IZEA, Inc. (NASDAQ: IZEA) shares over possible breaches of fiduciary duty by certain officers and directors was announced.

San Diego, CA -- (SBWIRE) -- 10/31/2018 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of IZEA, Inc. .

Investors who are current long term investors in IZEA, Inc. (NASDAQ: IZEA) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: IZEA stocks follows a lawsuit filed recently against IZEA, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: IZEA stocks, concerns whether certain IZEA directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that IZEA, Inc. was misreporting revenue from the Company's Content Workflow services as gross amounts billed to marketers instead of on a net transaction basis, that the amount IZEA previously reported as gross profit on Content Workflow should be the amount reported as revenue, that IZEA lacked adequate internal controls, and that as a result, Defendants' public statements were materially false and misleading at all relevant times

On April 2, 2018, IZEA, Inc. revealed that it would delay its fourth quarter and full year 2017 earnings release and a conference call. IZEA's Audit Committee identified an error in accounting for revenue and cost of sales related to the self-service Content Workflow portion of its revenue. According to the company, the amount it previously reported as gross profit on Content Workflow should be reported as revenue. IZEA, Inc. also announced in a Form 8-K filed with the SEC, that its previously issued financial statements included in its annual reports for the years ended December 31, 2015 and 2016, and quarterly reports for each quarter for the years ended December 31, 2015 and 2016 and the first three quarters for the year ended December 31, 2017 should no longer be relied upon.

Those who purchased shares of IZEA, Inc. (NASDAQ: IZEA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaq-izea-long-term-investor-alert-investigation-of-potential-wrongdoing-at-izea-inc-1076689.htm

Media Relations Contact
Michael Daniels
858-779-1554
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Web: http://www.ShareholdersFoundation.com