Energy News / Shareholders Foundation, Inc.

NASDAQ:IZEA Shareholder Notice: Deadline on June 4, 2018 Upcoming in Lawsuit Against IZEA, Inc

Via: ReleaseWire

Updated 11:00 AM CDT, Tue, May 29,2018

A Deadline is coming up on June 4, 2018 in the lawsuit for investors in IZEA, Inc. (NASDAQ: IZEA) and NASDAQ: IZEA stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 05/29/2018 -- The Shareholders Foundation announces that a deadline is coming up on June 4, 2018 in the lawsuit filed for certain investors in shares of IZEA, Inc. (NASDAQ: IZEA) over alleged securities laws violations by IZEA, Inc.

Investors who purchased shares of IZEA, Inc. (NASDAQ: IZEA) have certain options and there are strict and short deadlines running. Deadline: June 4, 2018. NASDAQ: IZEA stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff claims that between May 15, 2015 and April 3, 2018, 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

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqizea-shareholder-notice-deadline-on-june-4-2018-upcoming-in-lawsuit-against-izea-inc-986196.htm

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