Business
SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Fenix Parts, Inc. to Contact the Firm Before Imminent Lead Plaintiff Deadline
NEW YORK, NY / ACCESSWIRE / March 5, 2017 / Faruqi & Faruqi, LLP, a leading national sec...
About this update from Fenixoro Gold Corp.
[{"type":"text","content":"SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Fenix Parts, Inc. to Contact the Firm Before Imminent Lead Plaintiff DeadlineNEW YORK, NY / ACCESSWIRE / March 5, 2017 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Fenix Parts, Inc. (\"Fenix\" or the \"Company\") (NASDAQ: FENX) of the March 13, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers. \nThe lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Fenix stock or options between May 14, 2015 and October 12, 2016 (the \"Class Period\"). The case, BEEZLEY v. FENIX PARTS, INC. et al, No. 17-cv-00233, was filed on January 12, 2017.\nThe lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to maintain proper accounting, which resulted in misguiding financial statements. \nFirst, on September 10, 2015, Street Sweeper published the article, \"Fenix Parts: This Automobile Parts Seller Could Be Headed To The Junkyard,\" revealing the Company's lack of adequate inventory valuation methodologies. After the announcement, Fenix's share price fell from $9.59 per share on September 9, 2015 to a closing price of $8.47 on September 10, 2015 - a $1.12 or a 11.7% drop.\nThen, on October 13, 2016, the Company issued a press release announcing that it would be unable to file its quarterly report for the second quarter of 2016 and that it had received a subpoena from the Securities and Exchange Commission. The subpoena is focused on the Company's recent change in its independent registered public accounting firm, its previously announced business combinations and related goodwill impairment charge, the effectiveness of its internal control over financial reporting, and its inventory valuation methodology. After the announcement, Fenix's share price fell from $3.87 per share on October 12, 2016 to a closing price of $3.42 on October 13, 2016 - a $0.45 or a 11.63% drop.\nRequest more information now by clicking here: www.faruqilaw.com/FENX. There is no cost or obligation to you.\nTake Action\nIf you invested in Fenix stock or options between May 14, 2015 and October 12, 2016 and would like ...