SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of IZEA Inc. (IZEA)
NEW YORK, April 4, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of IZEA Inc. ("IZEA" or the "Company") (NASDAQ: IZEA). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/izea.
The investigation concerns whether IZEA and certain of its officers and/or directors have violated federal securities laws.
On April 2, 2018, IZEA revealed that it would delay its fourth quarter and full year 2017 earnings release and a conference call. IZEA's Audit Committee identified an error in accounting for revenue and cost of sales related to the self-service Content Workflow portion of its revenue. According to the company, the amount it previously reported as gross profit on Content Workflow should be reported as revenue. Following this news, IZEA stock dropped $0.66 per share or over 18% to close at $3.00 per share on April 2, 2018.
IZEA also announced in a Form 8-K filed with the SEC, that its previously issued financial statements included in its annual reports for the years ended December 31, 2015 and 2016, and quarterly reports for each quarter for the years ended December 31, 2015 and 2016 and the first three quarters for the year ended December 31, 2017 should no longer be relied upon. Following this news, IZEA stock dropped sharply during intraday trading on April 3, 2018.
If you are aware of any facts relating to this investigation, or purchased IZEA shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/izea. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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