NEW YORK, April 24, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of AudioEye, Inc. ("AudioEye" or the "Company") (OTC: AEYE), concerning whether the board has breached its fiduciary duties to shareholders.
On April 1, 2015, the Company issued a press release disclosing that it suffered from "financial statement issues" and that it would have to remove all revenue derived from certain non-cash transactions from its financial statements because, apparently, they had been improperly recorded. These non-cash transactions represented $8.1 million in revenue during the first none months of 2014. As a result, the Company stated it will be forced to restate its financial statements for at least 2014 and possibly 2013.
The Company also disclosed that due to the "financial statement issues," it did not expect to timely file its Form 10-K for the 2014 fiscal year or its Form 10-Q for the first quarter of 2015.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own AudioEye shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Email: [email protected]
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP