ATTENTION VOXX SHAREHOLDERS: Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Voxx International ...
June 26 2014 - 08:52PM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating potential violations of federal securities laws by
Voxx International Corporation (NASDAQ: VOXX) and certain of its
officers. Voxx operates as a manufacturer and distributor in the
automotive, premium audio, and consumer accessories industries.
Specifically, Johnson & Weaver’s investigation seeks to
determine whether shareholders were materially misled by certain
statements the company made, thereby inflating the stock price of
Voxx.
On May 14, 2014, after the markets closed, Voxx reported fourth
quarter and full year revenues and earnings for fiscal year 2014.
For the year, the company reported that net sales were $809.7
million, a decrease of 3.1% compared to net sales of $835.6 million
reported in the comparable period a year ago. The fourth quarter
revenue totaled $187.1 million, far less than analysts’
expectations of $205.47 million. Voxx also issued full year fiscal
2015 revenue guidance of $825 million to $830 million, compared to
the analysts’ consensus estimate of $870.59 million. On this news,
Voxx stock closed down 25% on May 15, 2014 at $7.51.
If you are a Voxx shareholder and are interested in learning
more about the investigation or your legal rights and remedies,
please contact Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471. If you email, please include your phone
number.
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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