Jun 11, 2015, 02:27 ET
NEW YORK, June 11, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in AudioEye, Inc. ("AudioEye" or the "Company") (Other OTC: AEYE) of the upcoming June 15, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against AudioEye and certain officers of the Company.
A complaint has been filed in the United States District Court for the District of Arizona on behalf of all persons who purchased or otherwise acquired AudioEye securities from May 5, 2014 to April 1, 2015 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, AudioEye made false and/or misleading statements and failed to disclose that (1) the Company improperly accounted for all revenue from non-cash exchanges of a license for services with a customer; and (2) AudioEye failed to employ internal controls over its financial reporting.
On April 1, 2015, the Company disclosed that its previously issued financial results for the first three quarters of 2014 will be restated and the preliminary earnings release for the fourth quarter of 2014 and the full year of 2014 could no longer be relied upon.
Following this news, the price of the Company's stock declined by $0.10 per share, or over 24%, to close on April 1, 2015 at $0.31 per share.
Request more information now by clicking here: www.faruqilaw.com/AEYE. There is no cost or obligation to you.
If you invested in AudioEye securities or options between May 5, 2014 and April 1, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/AEYE. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected] Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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SOURCE Faruqi & Faruqi, LLP
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