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Robbins Arroyo LLP: Vuzix Corporation (VUZI) Misled Shareholders According to Recently Filed Class Action

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Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Vuzix Corporation (NasdaqCM:
VUZI) issued in connection with the company's January 2018 secondary
public offering ("SPO") and/or between November 9, 2017 and March 20,
2018, have filed a class action complaint against the company's officers
and directors for alleged violations of the Securities Act of 1933 and
the Securities Exchange Act of 1934. Vuzix designs, manufactures,
markets, and sells wearable display devices in the United States and
internationally.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/vuzix-corporation-vuzi/

Vuzix Accused of Using Illegal Stock Promotion Tactics

According to the complaint, prior to the SPO, Vuzix emphasized
sequential growth and record revenue in its public filings. Vuzix also
heavily touted its Vuzix Blade Smart Glasses ("The Blade"), noting that
the device received four innovation awards at the Consumer Electronics
Show in January 2018. In its SPO, Vuzix sold 3,000,000 shares at $10 per
share, receiving proceeds of approximately $28.4 million. Not long after
that, in March 2018, a report alleged that Vuzix illegally used stock
promotion tactics to boost Vuzix's share price. The report called The
Blade "little more than a low tech mock-up which serves as a prop for
journalists to conduct sham reviews." On this news, Vuzix's stock fell
more than 22% to close at $5.95 per share on March 21, 2018.

Vuzix Shareholders Have Legal Options

If you would like more information about your rights and potential
remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock
Watch
.

Attorney Advertising. Past results do not guarantee a similar outcome.

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