NEW ORLEANS, Sept. 07, 2018 — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 24, 2018 to file lead plaintiff applications in a securities class action lawsuit against Vuzix Corporation (NasdaqCM: VUZI), if they purchased the Company’s securities: a) issued in connection with the Company’s January 25, 2018 Secondary Public Offering; and/or, b) between November 9, 2017, and March 20, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Vuzix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqcm-vuzi/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 24, 2018.
About the Lawsuit
Vuzix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 16, 2018, Mox Reports published an in-depth report charging the Company with utilizing an illegal and wide-ranging stock promotion scheme to artificially inflate its share price and volume, and then raise $ 30 million.
On this news, the price of Vuzix shares plummeted $ 1.70 per share, or more than 22%, on heavy volume, over the course of three trading sessions, to close on March 21, 2018 at $ 5.95 per share.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
This article has been provided by Nasdaq Globe Newswire.