LOS ANGELES--(EON: Enhanced Online News)--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.
“related to disputes in acquisition-date value of working capital.”
To get more information about this investigation, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or via email at firstname.lastname@example.org.
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.
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