MELBOURNE, Florida,
February 24, 2017 /PRNewswire/ --
NXT-ID, Inc. (NASDAQ: NXTD)("NXT-ID" or the
"Company"), a security technology company, responded to a press
release issued on February 23, 2017,
by Purcell Julie & Lefkowitz LLP, by issuing the following
statement:
"Yesterday, the Company was alerted to an announcement about a
law firm's investigation into certain corporate actions taken by
shareholders in 2015. Shortly thereafter we received a formal
letter from that same law firm on behalf of a shareholder asking
that we review the promptness of the notice of certain shareholder
actions taken in 2015.
While the Company's general policy is not to respond to
third-party assertions, the Company also strongly believes that it
is important to act on shareholder inquiries as its primary mission
is to create and protect shareholder value. The Company has always
sought to act in its shareholders' best interests and believes it
has done so here as well. The Company's board of directors plans to
review the assertions in the law firm's correspondence and
investigate the substance of these claims and to then respond
accordingly."
About NXT- ID Inc. - Mobile Security for a Mobile
World
Nxt-ID, Inc. (NASDAQ: NXTD) is a security technology Company
providing security for finance, assets and healthcare. The
Company's innovative MobileBio® solution mitigates risks associated
with mobile computing, m-commerce and smart OS-enabled devices.
With extensive experience in biometric identity verification,
security and privacy, encryption and data protection, payments,
miniaturization and sensor technologies, the Company partners with
industry leading companies to provide solutions for modern payment
and the Internet of Things ("IoT") applications. The Company's
wholly owned subsidiary, LogicMark, LLC, manufactures and
distributes nonmonitored and monitored personal emergency response
systems ("PERS") sold through the United States Department of
Veterans Affairs ("VA"), healthcare durable medical equipment
dealers and distributors and monitored security dealers and
distributors.
http://www.nxt-id.com
https://www.logicmark.com
Forward-Looking Statements for NXT-ID: This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements reflect management's current expectations, as of the
date of this press release, and involve certain risks and
uncertainties. Forward-looking statements include statements herein
with respect to the successful execution of the Company's business
strategy. The Company's actual results could differ materially from
those anticipated in these forward-looking statements as a result
of various factors. Such risks and uncertainties include, among
other things, our ability to establish and maintain the proprietary
nature of our technology through the patent process, as well as our
ability to possibly license from others patents and patent
applications necessary to develop products; the availability of
financing; the Company's ability to implement its long range
business plan for various applications of its technology; the
Company's ability to enter into agreements with any necessary
marketing and/or distribution partners; the impact of competition,
the obtaining and maintenance of any necessary regulatory
clearances applicable to applications of the Company's technology;
and management of growth and other risks and uncertainties that may
be detailed from time to time in the Company's reports filed with
the Securities and Exchange Commission.
NXT-ID Inc. Contact :
Corporate info: info@nxt-id.com
Media:
D. Van Zant
+1-800-665-0411
press@nxt-id.com
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SOURCE NXT-ID, Inc.