An investigation on behalf of investors in Resonant Inc (NASDAQ:RESN) shares over potential wrongdoing at Resonant Inc was announced and NASDAQ:RESN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/04/2015 -- An investigation on behalf of investors in shares of Resonant Inc (NASDAQ:RESN) was announced over potential breaches of fiduciary duties by certain officers and directors at Resonant.
Investors who purchased shares of Resonant Inc (NASDAQ:RESN) shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Resonant officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Shares of Resonant Inc (NASDAQ:RESN) grew from $5.12 per share in November 2014 to as high as $19.86 per share on February 12, 2015.
Then on February 26, 2015, Resonant Inc announced financial results and provided a business update for the fourth quarter and year ended December 31, 2014. Among other things, Resonant Inc said that it has "delivered a completed duplexer design for consideration to our first customer" but the delivered design "does not meet all the specifications in the development agreement." Resonant Inc said also said that the customer's decision whether to use Resonant's design is uncertain and based on a number of considerations, many of which are beyond Resonant's control.
Shares of Resonant Inc (NASDAQ:RESN) declined to as low as $9.54 per share on February 27, 2015.
On March 2, 2015, NASDAQ:RESN shares closed at $9.67 per share.
Those who purchased shares of Resonant Inc (NASDAQ:RESN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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