The Shareholders Foundation announces that an investor in shares of Audioeye Inc (OTCMKTS:AEYE) filed a lawsuit in the U.S. District Court for the District of Arizona over alleged violations of Federal Securities Laws by Audioeye Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Audioeye Inc (OTCMKTS:AEYE) have certain options and for certain investors are short and strict deadlines running. Deadline: June 15, 2015. Audioeye investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Audioeye Inc (OTCMKTS:AEYE) common shares between May 14, 2014 and April 1, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants made between May 14, 2014 and April 1, 2015 allegedly false and/or misleading statements and/or allegedly failed to disclose that AudioEye’s financial statements contained errors concerning the classification of revenues and expenses, that Audioeye Inc lacked adequate internal controls over its financial reporting, and that as a result of the foregoing, Audioeye’s financial statements were materially false and misleading at all relevant times. When the true details entered the market, the suit claims that investors suffered damages.
On April 1, 2015, Audioeye Inc (OTCMKTS:AEYE) announced that on March 26, 2015, the Audit Committee of the Company’s Board of Directors, based in part on the recommendation of the Company’s management and in consultation with the Company’s auditors and advisors, concluded that because of errors identified in the Company’s previously issued financial statements, the Company will restate its previously issued financial statements for the quarters ended March 31, June 30 and September 30, 2014. Audioeye Inc said that the Audit Committee also authorized an internal review of controls and policies and that investors should no longer rely upon the Company’s previously released financial statements or other financial data for these periods, including any interim period financial statements, and any earnings releases relating to these periods. Shares of Audioeye Inc (OTCMKTS:AEYE) declined to as low as $0.093 per share on April 21, 2015.
On April 27, 2015, OTC:AEYE shares closed at $0.19 per share.
Those who purchased shares of Audioeye Inc (OTCMKTS:AEYE) have certain options and should contact the Shareholders Foundation.
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