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 IZEA, Inc. (NASDAQ:IZEA) resulting from allegations that IZEA may have issued materially misleading business information to the investing public.
On April 2, 2018, IZEA announced it would reschedule its fourth quarter and full year 2017 earnings release and conference call after its Audit Committee determined there was an error in accounting for revenue and cost of sales related to the self-service Content Workflow portion of the Company’s revenue. According to IZEA, the amount it previously reported as gross profit on Content Workflow should be reported as revenue. On this news, shares of IZEA fell $0.66 per share or over 18% to close at $3.00 per share on April 2, 2018.
Then, in a Form 8-K filed with the SEC, IZEA announced that its previously issued financial statements included in its annual reports for the years ended December 31, 2015 and 2016, and quarterly reports for each quarter for the years ended December 31, 2015 and 2016 and the first three quarters for the year ended December 31, 2017 should no longer be relied upon. On this news, shares of IZEA have fallen sharply during intraday trading on April 3, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by IZEA investors. If you purchased shares of IZEA please visit the firm’s website at http://www.rosenlegal.com/cases-1313.html to join the class action. You may also contact Phillip Kim or Zachary Halper 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. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
Zachary Halper, Esq.
The Rosen Law Firm, P.A.
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