The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Eastern District of New York on
behalf of purchasers of VOXX International Corporation (“VOXX” or the
“Company”) (Nasdaq:VOXX) common stock between May 15, 2013 and May 14,
2014, inclusive (the “Class Period”), and informs investors who wish to
become proactively involved in the litigation that they have until
September 8, 2014 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in VOXX common stock
purchased on or after May 15, 2013 and held through the revelation of
negative information during and/or at the end of the Class Period, as
described below, and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
No class has yet been certified in the above action. Members of the
Class will be represented by the lead plaintiff and counsel chosen by
the lead plaintiff. If you wish to choose counsel to represent you and
the Class, you must apply to be appointed lead plaintiff no later than
September 8, 2014 and be selected by the Court. The lead plaintiff will
direct the litigation and participate in important decisions including
whether to accept a settlement and how much of a settlement to accept
for the Class in the action. The lead plaintiff will be selected from
among applicants claiming the largest loss from investment in Company
units during the Class Period.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that the Company was experiencing declining
sales in its Premium Audio and Consumer Accessories segments and had
failed to timely record losses, including in connection with certain
acquisitions. According to the complaint, following the Company’s
January 9, 2014 lowered guidance and the Company’s May 14, 2014
announcement of financial result below guidance and an impairment charge
related to, among other things, certain acquisitions, the value of VOXX
shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
Copyright Business Wire 2014