LOS ANGELES--(EON: Enhanced Online News)--Goldberg Law PC, a national shareholder rights litigation firm, announces that it is investigating ZAGG Inc. (“ZAGG” or the “Company”) (Nasdaq: ZAGG) concerning possible violations of federal securities laws.
“related to disputes in acquisition-date value of working capital.”
If you purchased or otherwise acquired ZAGG shares and would like more information regarding the investigation, we advise you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The purpose of the investigation is to determine if ZAGG’s subsidiary company, mophie inc. (“mophie”), was 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, when releasing 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 news was disclosed to the public, shares of ZAGG fell 13.2%, to close at $5.90 per share on November 2, 2016, causing investors harm.
If you have any questions concerning your legal rights, please immediately contact Goldberg Law PC at 800-977-7401, or visit our website at http://www.Goldberglawpc.com, or email us at email@example.com.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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