NEW ORLEANS, Aug. 10, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 24, 2018 to file lead plaintiff applications in a securities class action lawsuit against Vuzix Corporation (NasdaqCM: VUZI), if they purchased the Company’s securities: a) issued in connection with the Company’s January 25, 2018 Secondary Public Offering; and/or, b) between November 9, 2017, and March 20, 2018, inclusive (the “Class Period”).  This action is pending in the United States District Court for the Southern District of New York.

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About the Lawsuit

Vuzix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On March 16, 2018, Mox Reports published an in-depth report charging the Company with utilizing an illegal and wide-ranging stock promotion scheme to artificially inflate its share price and volume, and then raise $30 million.

On this news, the price of Vuzix shares plummeted $1.70 per share, or more than 22%, on heavy volume, over the course of three trading sessions, to close on March 21, 2018 at $5.95 per share.

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