NEW YORK--(EON: Enhanced Online News)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Zagg Inc (NASDAQ:ZAGG) resulting from allegations that Zagg may have issued materially misleading business information to the investing public.
On November 1, 2016, Zagg announced its third quarter 2016 financial results during aftermarket hours and revealed that it recorded a non-cash net impairment charge of $24.3 million related to disputes with former mophie inc. shareholders over the acquisition date value of mophie’s working capital accounts. Zagg recorded the charge during third quarter 2016 due to the changes in working capital after the issuance of the 2015 mophie audit on May 17, 2016 and former mophie shareholders disputing any changes to the preliminary working capital accounts. On this news, shares of Zagg fell $0.90 per share or over 13.2% from its previous closing price to close at $5.90 per share on November 2, 2016.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Zagg investors. If you purchased shares of Zagg, please visit the firm’s website at http://www.rosenlegal.com/cases-1016.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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