Cases
IZEA, Inc. (IZEA)
Securities Class Action
Overview
Overview
- Date:
- 4/4/2018
- Company Name:
- IZEA, Inc.
- Stock Symbol:
- IZEA
- Status:
- Closed/Complete
NEW YORK, April 4, 2018 – Bragar Eagel & Squire, P.C. is investigating potential claims against IZEA, Inc. (NASDAQ: IZEA). Our investigation concerns whether IZEA has violated the federal securities laws and/or engaged in other unlawful business practices.
On Monday, February 26 IZEA announced that in connection with the preparation of the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, the company’s Audit Committee of the Board of Directors (the “Audit Committee”) determined that there was an error in accounting for revenue and cost of sales related to the self-service Content Workflow portion of the company’s revenue, and that as a result of additional review procedures necessitated by the accounting adjustments, the company needs additional time to file its Annual Report on Form 10-K for the year ended December 31, 2017 and plans to file a request for an extension on Form 12b-25 with the Securities and Exchange Commission.
Following this news, shares of IZEA fell $0.66 per share, or over 18%, on April 2, 2018, to close at $3.00 per share. The stock price then continued to fall the following trading day, and dropped another $0.58 per share, or over 19%, to close at $2.42 per share on April 3, 2018.
If you purchased or otherwise acquired IZEA shares and suffered a loss, continue to hold shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On Monday, February 26 IZEA announced that in connection with the preparation of the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, the company’s Audit Committee of the Board of Directors (the “Audit Committee”) determined that there was an error in accounting for revenue and cost of sales related to the self-service Content Workflow portion of the company’s revenue, and that as a result of additional review procedures necessitated by the accounting adjustments, the company needs additional time to file its Annual Report on Form 10-K for the year ended December 31, 2017 and plans to file a request for an extension on Form 12b-25 with the Securities and Exchange Commission.
Following this news, shares of IZEA fell $0.66 per share, or over 18%, on April 2, 2018, to close at $3.00 per share. The stock price then continued to fall the following trading day, and dropped another $0.58 per share, or over 19%, to close at $2.42 per share on April 3, 2018.
If you purchased or otherwise acquired IZEA shares and suffered a loss, continue to hold shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.