An investigation on behalf of investors in Lightwave Logic, Inc. (NASDAQ:LWLG) shares over potential wrongdoing at Lightwave Logic, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/24/2022 -- An investigation was announced for long-term investors in NASDAQ: LWLG shares over potential breaches of fiduciary duties by certain directors at Lightwave Logic, Inc.
Investors who purchased shares of Lightwave Logic, Inc. (NASDAQ: LWLG) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Lightwave Logic directors breached their fiduciary duties and caused damage to the company and its shareholders.
Englewood, CO based Lightwave Logic, Inc., a development stage company, focuses on the development of photonic devices and non-linear optical polymer materials systems for fiber-optic data communications and optical computing markets in the United States.
On June 2, 2022, Kerrisdale Capital published a report, titled: "Lightwave Logic, Inc. (LWLG): A High-Frequency Failure," alleges that "underneath the façade of accomplishment … is almost nothing of substance." The report continues, "Lightwave hasn't ever come close to commercializing anything: in the 15 years since it's gone public, it has generated a total of about $6 thousand in revenues, which stands in stark contrast to the steady stream of promotional announcements celebrating overhyped prototype completions, product tests, and patents over that time." The report alleges that "Lightwave's polymer 'technology' is behind the curve and the feasibility of a manufacturing process to commercialize it may never be achieved."
Shares of Lightwave Logic, Inc. (NASDAQ: LWLG) declined from $12.34 per share on April 29, 2022, to as low as $6.50 per share on June 7, 2022.
Those who purchased shares of Lightwave Logic, Inc. (NASDAQ: LWLG) have certain options and should contact the Shareholders Foundation.
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