On or around 05/08/2017 (Date of order of final judgment)
Filing Date: April 20, 2015
According to the law firm press release, the lawsuit alleges Defendants made false and/or misleading statements and/or failed to disclose that: (1) AudioEye’s financial statements contained errors concerning the classification of revenues and expenses; (2) the Company lacked adequate internal controls over its financial reporting; and (3) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times. When the true details entered the market, the suit claims that investors suffered damages.
On August 3, 2015, the Court issued an Order appointing Lead Plaintiff and Lead Counsel. Lead Plaintiffs filed a consolidated and amended complaint on November 30.
The parties entered into a Stipulation of Settlement on December 13, 2016. Preliminary approval was granted on January 23, 2017. Final approval was granted on May 8.
Company & Securities Information
Defendant: AudioEye Incorporated
Industry: Communications Equipment
Headquarters: United States
Ticker Symbol: AEYE
Company Market: OTC-BB
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Ralph Saczawa, et al. v. AudioEye Incorporated, et al.