Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Vuzix Corporation Investors (VUZI)
LOS ANGELES--(BUSINESS WIRE)--Jul 24, 2018--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of persons and entities that a) acquired Vuzix Corporation (NASDAQ: VUZI ) (“Vuzix” or the “Company”) securities pursuant and/or traceable to the Company’s false and/or misleading registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s January 2018 secondary public offering (“SPO” or the “Offering”); and/or, b) acquired Vuzix securities between November 9, 2017, and March 20, 2018, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants, under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).
Investors are hereby notified that they have 60 daysfrom the date of this notice to move the Court to serve as lead plaintiff in this action.
Investors suffering losses on their Vuzix investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights at 310-201-9150 or by email to email@example.com, or visit the Vuzix case page on our website at www.glancylaw.com/case/vuzix-corporation.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Vuzix used unlawful stock promotion tactics to boost the Company’s stock price; (2) that Vuzix used misleading stock promotion tactics to raise nearly $30 million at an all-time high share price; and (3) that, as a result of the foregoing, Defendants’ statements in the Registration Statement regarding Vuzix’s business, operations, and prospects, were materially false and/or misleading.
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If you purchased securities in the SPO or during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180724006023/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
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PUB: 07/24/2018 07:12 PM/DISC: 07/24/2018 07:12 PM