An investigation was initiated for investors in NASDAQ:FENX shares over potential breaches of fiduciary duties by certain Fenix Parts directors.
Investors who purchased shares of Fenix Parts Inc (NASDAQ:FENX) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether Fenix Parts Inc may have issued materially misleading business information to the investing public.
On August 16, 2016, Fenix Parts Inc filed a notification of late filing of its Form 10-Q for the second quarter of 2016 with the SEC.
On October 13, 2016, Fenix Parts Inc filed a Form with the SEC, stating that because of its failure to timely file its Form 10-Q for the second quarter of 2016, NASDAQ has issued it a notice of delisting. Fenix Parts Inc also provided an update on the delay of the filing of its Form 10-Q for the second quarter of 2016, revealing that it has received a subpoena from the SEC requiring production of documents related to Fenix Parts’ recent change of auditors, its previously announced business combinations and related goodwill impairment charge, effectiveness of internal controls over financial reporting, and internal valuation methodology.
Shares of Fenix Parts Inc (NASDAQ:FENX) declined to as low as $3.05 per share on December 2, 2016.
Those who purchased shares of Fenix Parts Inc (NASDAQ:FENX) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com