NEW YORK, June 11, 2015 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in AudioEye, Inc. ("AudioEye" or the "Company")
(Other OTC: AEYE) of the upcoming June 15,
2015 deadline to seek the role of lead plaintiff in a
federal securities class action lawsuit filed against AudioEye and
certain officers of the Company.
A complaint has been filed in the United States District Court
for the District of Arizona on
behalf of all persons who purchased or otherwise acquired AudioEye
securities from May 5, 2014 to
April 1, 2015 (the "Class
Period").
The complaint alleges that the Company and its executives
violated federal securities laws with respect to its statements
concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period,
AudioEye made false and/or misleading statements and failed to
disclose that (1) the Company improperly accounted for all revenue
from non-cash exchanges of a license for services with a customer;
and (2) AudioEye failed to employ internal controls over its
financial reporting.
On April 1, 2015, the Company
disclosed that its previously issued financial results for the
first three quarters of 2014 will be restated and the preliminary
earnings release for the fourth quarter of 2014 and the full year
of 2014 could no longer be relied upon.
Following this news, the price of the Company's stock declined
by $0.10 per share, or over 24%, to
close on April 1, 2015 at
$0.31 per share.
Request more information now by clicking here:
www.faruqilaw.com/AEYE. There is no cost or obligation to
you.
Take Action
If you invested in AudioEye securities or options between
May 5, 2014 and April 1, 2015 and would like to discuss your
legal rights, visit www.faruqilaw.com/AEYE. You can also
contact us by calling Richard
Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com. Faruqi &
Faruqi, LLP also encourages anyone with information regarding the
Company's conduct to contact the firm, including whistleblowers,
former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients. To keep track of the
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(www.faruqilaw.com). Prior results do not guarantee or
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We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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