On or around 12/14/2018 (Notice of voluntarily dismissal)
Filing Date: July 24, 2018
Plaintiff's law firm issued a press release on July 24, 2018, announcing the filing of the class action lawsuit. According to the press release, the Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Vuzix used unlawful stock promotion tactics to boost the Company’s stock price; (2) that Vuzix used misleading stock promotion tactics to raise nearly $30 million at an all-time high share price; and (3) that, as a result of the foregoing, Defendants’ statements in the Registration Statement regarding Vuzix’s business, operations, and prospects, were materially false and/or misleading.
On October 15, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. The consolidated cases shall be captioned "In re Vuzix Corp. Securities Litigation." On December 14, Lead Plaintiff voluntarily dismissed this case.
Company & Securities Information
Defendant: Vuzix Corporation
Industry: Computer Peripherals
Headquarters: United States
Ticker Symbol: VUZI
Company Market: NASDAQ
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
James McDonel, et al. v. Vuzix Corporation, et al.
COURT: S.D. New York
DOCKET #: 18-CV-06656
JUDGE: Hon. Louis L. Stanton
DATE FILED: 07/24/2018
CLASS PERIOD START: 11/09/2017
CLASS PERIOD END: 03/20/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Prongay & Murray LLP (New York)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
Order Granting John Catalano's Motion for Consolidation of Related Actions, Appointment as Lead Plaintiff, and Approval of Lead Counsel
U.S. District Court Civil Docket
Notice of Voluntary Dismissal without Prejudice
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available