NEW YORK, Dec. 27, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of ZAGG Inc. ("ZAGG" or the "Company") (NASDAQ: ZAGG) concerning possible violations of federal securities laws. Such investors can obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/zagg.
The investigation concerns whether ZAGG's subsidiary, mophie inc. ("mophie"), was improperly accounting for and falsifying inventory and sales return reserves in violation of Generally Accepted Accounting Principles, and if ZAGG fabricated mophie's operational capital during the Class Period.
On November 1, 2016, ZAGG revealed its 2016 third quarter financial results and recounted a non-cash net mophie impairment charge of $24.3 million "related to disputes in acquisition-date value of working capital." Following this news, ZAGG stock dropped 13.2%, and closed at $5.90 per share on November 2, 2016.
If you are aware of any facts relating to this investigation, or purchased Zagg shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/zagg. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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