DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, has launched an investigation of Vuzix Corporation (“Vuzix” or “Company”) (NASDAQ: VUZI) and several officers and directors for possible violations of federal securities laws.
The firm is investigating potential legal claims against the officers and Board of Directors of Vuzix. If you are an affected Vuzix shareholder and want to learn more about the investigation, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org, or call toll free at (888) 809-2750. There is no cost or fee to you.
The firm seeks to determine if the defendants violated certain provisions of the Securities Exchange Act of 1934. Specifically, the investigation relates to the Company’s announcement on March 16, 2017, that it had “determined that material weaknesses in internal control over financial reporting related to the financial reporting and close process monitoring of subsidiaries, and related to inventory existed as of December 31, 2016" and that “Vuzix Corporation has not maintained effective internal control over financial reporting as of December 31, 2016.” On this news, the stock price of Vuzix dropped significantly.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.