An investigation on behalf of investors in Vuzix Corporation (NASDAQ:VUZI) shares over potential wrongdoing at Vuzix Corporation was announced and NASDAQ:VUZI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/29/2017 -- Vuzix Corporation is under investigation over potential securities laws violations. The investigation was announced for investors in shares of Vuzix Corporation (NASDAQ:VUZI) also over potential breaches of fiduciary duties by certain directors at Vuzix Corporation.
Investors who purchased shares of Vuzix Corporation (NASDAQ:VUZI) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain Vuzix Corporation directors breached their fiduciary duties and caused damage to the company and its shareholders.
On March 16, 2017, Vuzix Corporation announced that it had "determined that material weaknesses in intern control over financial reporting related to the financial reporting and close process monitoring of subsidiaries, and related to inventory existed as of December 31, 2016" and that, "Vuzix Corporation has not maintained effective internal control over financial reporting as of December 31, 2016."
Shares of Vuzix Corporation (NASDAQ:VUZI) declined on March 28, 2017 to as low as $5.80 per share.
Those who purchased shares of Vuzix Corporation have certain options and should contact the Shareholders Foundation.
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