Lundin Law PC, a shareholder rights firm, announces that it is investigating claims against Zagg Inc. (“Zagg” or the “Company”) (Nasdaq: ZAGG) concerning possible violations of federal securities laws.
To get more information about this investigation, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or via email at brian@lundinlawpc.com.
The investigation concerns ZAGG’s subsidiary company, mophie inc. (“mophie”) falsifying inventory and sales return reserves in violation of Generally Accepted Accounting Principles; and, if ZAGG falsified mophie’s working capital during the Class Period.
On November 1, 2016, upon announcing its 2016 third quarter financial results, the Company reported a non-cash net mophie impairment charge of $24.3 million “related to disputes in acquisition-date value of working capital.” When this information was released to the investing public, shares of ZAGG fell 13.2%, to close at $5.90 per share on November 2, 2016, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161223005368/en/
Contacts:
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile:
888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/