NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Fenix Parts, Inc. (NASDAQ: FENX) resulting from allegations that Fenix Parts may have issued materially misleading business information to the investing public.
On August 16, 2016, during aftermarket hours, Fenix Parts filed a notification of late filing of its Form 10-Q for the second quarter of 2016 with the SEC and blamed the delay on its recent change in auditors. On this news, shares of Fenix Parts fell $0.25 per share or 5% from its previous closing price to close at $4.48 per share on August 17, 2016.
On October 13, 2016, Fenix Parts filed a Form 8-K with the SEC, stating that because of its failure to timely file its Form 10-Q for the second quarter of 2016, NASDAQ has issued it a notice of delisting. Fenix Parts also provided an update on the delay of the filing of its Form 10-Q for the second quarter of 2016, revealing that it has received a subpoena from the SEC requiring production of documents related to Fenix Parts’ recent change of auditors, its previously announced business combinations and related goodwill impairment charge, effectiveness of internal controls over financial reporting, and internal valuation methodology. On this news, shares of Fenix Parts fell sharply during intraday trading on October 13, 2016.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Fenix Parts investors. If you purchased shares of Fenix Parts on or before October 12, 2016, please visit the firm’s website at http://www.rosenlegal.com/cases-968.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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