LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces that it is investigating claims against Vuzix Corp. (“Vuzix” or the “Company”) (Nasdaq: VUZI) concerning possible violations of federal securities laws.
Vuzix revealed that it "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." When this information was announced to investors, the value of Vuzix stock dropped, causing harm to investors.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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