SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of federal securities laws by Voxx International Corporation (NASDAQ: VOXX) and certain of its officers. Voxx operates as a manufacturer and distributor in the automotive, premium audio, and consumer accessories industries.
Specifically, Johnson & Weaver’s investigation seeks to determine whether shareholders were materially misled by certain statements the company made, thereby inflating the stock price of Voxx.
On May 14, 2014, after the markets closed, Voxx reported fourth quarter and full year revenues and earnings for fiscal year 2014. For the year, the company reported that net sales were $809.7 million, a decrease of 3.1% compared to net sales of $835.6 million reported in the comparable period a year ago. The fourth quarter revenue totaled $187.1 million, far less than analysts’ expectations of $205.47 million. Voxx also issued full year fiscal 2015 revenue guidance of $825 million to $830 million, compared to the analysts’ consensus estimate of $870.59 million. On this news, Voxx stock closed down 25% on May 15, 2014 at $7.51.
If you are a Voxx shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) at 619-814-4471. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.