An investigation for investors in Fenix Parts Inc (NASDAQ:FENX) shares over potential securities laws violations by Fenix Parts Inc was announced and NASDAQ:FENX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/28/2015 -- An investigation for shareholders in shares of Fenix Parts Inc (NASDAQ:FENX) over potential securities laws violations by Fenix Parts Inc and certain of its directors and officers in connection certain financial statements was announced.
Shares of Fenix Parts Inc (NASDAQ:FENX) declined to as low as $7.31per share on September 24, 2015.
Investors who purchased shares of Fenix Parts Inc (NASDAQ:FENX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Fenix Parts Inc (NASDAQ:FENX) concerning whether a series of statements by Fenix Parts Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Fenix Parts Inc went public in May 2015 and its shares reached $11.51 per share in June 2015.
On August 18, 2015, Fenix Parts Inc announced that it would be unable to timely file its quarterly report for the period ended June 30, 2015, and disclosed that, "because of the extensive process necessary to compile this information for SEC reporting, we are delaying our filing until September 2."
On September 2, 2015, Fenix Parts Inc failed to file its quarterly report, announced second quarter 2015 pro forma revenues of $27 million, and further disclosed that it expected to report a loss for the quarter.
On September 10, 2015, Fenix Parts Inc was the subject of an analyst report that criticized Fenix Parts' alleged misleading financial statements, and Fenix Parts' lack of adequate internal controls over accounting.
On September 25, 2015, NASDAQ:FENX shares closed at $7.46 per share
Those who purchased shares of Fenix Parts Inc (NASDAQ:FENX) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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