San Diego, CA -- (SBWIRE) -- 07/19/2016 -- The Shareholders Foundation announced that a deadline is coming up on July 25, 2016 in the lawsuit filed for investors of Ability Inc (NASDAQ:ABIL) over alleged securities laws violations by Ability Inc.

Investors who purchased shares of Ability Inc (NASDAQ:ABIL) have certain options and there are strict and short deadlines running. Deadline: July 25, 2016. NASDAQ:ABIL stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the complaint filed in the the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Ability Inc (NASDAQ:ABIL) common shares between September 8, 2015 and April 29, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 8, 2015 and April 29, 2016 the defendants issued false and misleading statements to investors and/or failed to disclose that Ability materially overstated its income by failing to account for commissions, that Ability materially overstated its operating results by improperly recognizing revenue on multiple element sales transactions, that Ability has material weaknesses in its internal controls and that as a result of the foregoing, Ability's financial statements for the years ending December 31, 2013 and 2014 were materially false and misleading and not prepared in accordance with U.S. Generally Accepted Accounting Principles.

On May 2, 2016, Ability Inc (NASDAQ:ABIL) released an annual report on Form 20-F disclosing that it would be restating its financial results for the two years ending December 31, 2014. Ability Inc admitted that it improperly allocated and timed its revenue recognition, and failed to recognize commissions due to a third party. Shares of Ability Inc (NASDAQ:ABIL) declined to as low as $2.77 per share on May 6, 2016.

Those who purchased shares of Ability Inc 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