An investigation on behalf of current long term investors in Vuzix Corporation (NASDAQ: VUZI) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/23/2018 -- An investigation was announced for investors in shares of Vuzix Corporation (NASDAQ: VUZI) concerning potential breaches of fiduciary duties by certain directors and officers of Vuzix Corporation (NASDAQ: VUZI.
Investors who are current long term investors in Vuzix Corporation (NASDAQ: VUZI) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: VUZI stocks follows a lawsuit filed recently against Vuzix Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: VUZI stocks, concerns whether certain Vuzix 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 Southern District of New York plaintiff alleges that defendants failed to disclose that Vuzix used unlawful stock promotion tactics to boost the Company's stock price, that Vuzix Corporation used misleading stock promotion tactics to raise nearly $30 million at an all-time high share price, and that, as a result of the foregoing, Defendants' statements in the Registration Statement regarding Vuzix's business, operations, and prospects, were materially false and/or misleading.
On March 16, 2018, a report was issued stating "Vuzix Corporation recently used an undisclosed stock promotion involving dozens of mainstream media outlets to artificially inflate the share price and volume, and then raise $30 million."
Those who purchased shares of Vuzix Corporation (NASDAQ:VUZI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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.
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