A law office recently noted that it filed a securities class action lawsuit against an electronics company due to potential federal securities law violations.
Robbins Geller Rudman and Dowd, LLP, noted that the litigation was filed in the U.S. District Court for the Eastern District of New York against those who acquired stock in VOXX International Corporation. This includes all shareholders who acquired stock in the company during the class period between May 15, 2013 and May 14, 2014.
The allegations in the case center around potential violations of the Securities Exchange Act of 1934. This was due to the company making a number of statements that may have been false or misleading regarding its financial prospects and performance.
For those interested shareholders, there is an ability to become lead plaintiff in the case, but all applications must be entered with the court within 60 days of the filing. Any applicants will need to be approved by the court, as they have to be adequate representatives of the class. This position is not mandatory, and there is still an ability for stockholders to not take action, while still collecting in the event of a financial return.
Any shareholders who are looking to learn more about the case have an ability to speak with the law firm. Both David Rosenfeld and Samuel Rudman are available to be reached by telephone or email. The law office's website also has further information on the case.
Separate lawsuit filed
Another law office noted that it filed a lawsuit in the same court against VOXX International for many of the aforementioned reasons.
Law firm Brower Piven explained that the class action lawsuit was filed against the company for the same class period. This was prompted by the company announcing that its financial guidance was lowered due to a sales decline in its consumer accessories and premium audio sections. The losses in some of its departments were not recorded in a timely fashion, which made the financial reporting inaccurate and forced the overall revision.
It is an option to speak with this law office to learn more about the lawsuit and how it may affect the interests of shareholders. Members of the law firm can be reached by email or telephone, while its website also contains further details.