NEW YORK, Apr. 24, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action has been filed in the United States District Court for the District of Arizona on behalf of all persons or entities that purchased the securities of AudioEye, Inc. (OTC:AEYE) (“AudioEye” or the “Company”). The class period is between May 5, 2014 and April 1, 2015, inclusive (the "Class Period").
On April 1, 2015, AudioEye announced that its previously issued financial statements for the quarters ended March 31, June 30 and September 30, 2014 will be restated due to errors. Furthermore, AudioEye stated that its preliminary earnings release issued by the Company on January 12, 2015 relating to the quarter and year ended December 31, 2014 should no longer be relied upon. The Company also announced that Edward O'Donnell resigned as the Company's Chief Financial Officer.
As a result of this announcement, the Company's stock fell as much as 43% during intraday trading on April 1, 2015.
If you purchased AudioEye securities during the Class Period, you may, no later than June 15, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “AudioEye Investigation.”
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