SAN FRANCISCO, Jan. 13, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in Fenix Parts, Inc. (NASDAQ:FENX) to the securities class action lawsuit filed in the U.S. District Court for the District of New Jersey and to the March 13, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of FENX between May 14, 2015 and October 12, 2016 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/FENX
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing FENX@hbsslaw.com.
FENX disclosed on October 13, 2016 that it received a subpoena from the U.S. Securities and Exchange Commission. The SEC’s investigation appears to be focused on FENX changing its outside auditor, its previously announced business combinations and related goodwill impairment charges, the effectiveness of its internal controls over financial reporting and its valuation methodology.
Disclosure of this news drove the price of Fenix shares down approximately 11.6%.
“When the SEC identifies the breadth of accounting issues to investigate, as it did here, there is the potential for historical financial restatements,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Fenix should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email FENX@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.