IMPORTANT INVESTOR NOTICE: Khang & Khang LLP Announces an Investigation of Zagg Inc. and Encourages Investors to Contact the Firm
IRVINE, CA / ACCESSWIRE / January 31, 2017 / Khang & Khang LLP (the “Firm”) announces that it is investigating claims against Zagg Inc. (“Zagg” or the “Company”) (NASDAQ: ZAGG) concerning possible violations of federal securities laws.
If you purchased shares of Zagg. and want more information, free of charge, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
The purpose of the investigation is to determine if Zagg’s subsidiary company, mophie inc. (“mophie”), exaggerated inventory and sales return reserves in violation of Generally Accepted Accounting Principles; and, if Zagg exxagerated mophie’s working capital during the Class Period.
When releasing third quarter 2016 financial results, Zagg reported a non-cash net mophie impairment charge of $24.3 million “related to disputes in acquisition-date value of working capital.” When this information was released to the investing public, shares of Zagg fell 13.2%, causing investors serious harm.
If you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some jurisdictions.
Contact:
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
ReleaseID: 453965