Glancy Prongay & Murray LLP Commences Investigation on Behalf of Fenix Parts, Inc. Investors
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Fenix Parts, Inc. (“Fenix” or the “Company”) (NASDAQ: FENX) investors concerning the Company and its officers’ possible violations of federal securities laws.
Fenix engages in the auto recycling business in the United States and Canada. It is involved in recycling and reselling original equipment manufacturer (OEM) parts, components and systems.
On August 16, 2016, Fenix filed a notification of late filing of its Form 10-Q for the second quarter of 2016 with the SEC. According to the Company, a recent change in auditors was the principal reason for the delay. On this news, shares of Fenix fell approximately 5% to close at just $4.48 per share on August 17, 2016.
Then on October 13, 2016, Fenix filed its Form 8-K with the SEC, disclosing that due to its failure to file its Form 10-Q for the second quarter of 2016 on time, NASDAQ had issued it a notice of delisting. Additionally, Fenix provided more detail on the delay of the filing of its Form 10-Q for the second quarter of 2016, announcing that it was in receipt of a subpoena from the SEC demanding production of documents concerning, among other things, Fenix’s recent change of auditors as well as its potential lack of internal controls.
On this news, shares of Fenix Parts fell over 11% during intraday trading on October 13, 2016.
If you purchased Fenix securities, have information or 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170119006079/en/
Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley
Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
Source: Glancy Prongay & Murray LLP
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
- IBM (IBM) to Acquire HashiCorp (HCP) for $35/sh Cash or $6.4B
- Genco Shipping & Trading Limited (GNK) Sends Letter to Shareholders
Create E-mail Alert Related Categories
Press ReleasesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!