The Shareholders Foundation announces that an investigation on behalf of investors of Identiv Inc (NASDAQ:INVE) shares was initiated over potential securities laws violations by Identiv Inc and certain of its directors and officers.
Investors who purchased shares of Identiv Inc (NASDAQ:INVE) 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 focuses on possible claims on behalf of purchasers of the securities of Identiv Inc (NASDAQ:INVE) concerning whether a series of statements by Identiv regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Identiv Inc reported that its annual Total Revenue rose from $72.36 million in 2012 to $81.25 million in 2014 and that its Net Loss of $50.34 million in 2012 declined to $17.79 million in 2014. Shares of Identiv Inc (NASDAQ:INVE) grew from $8.69 per share in November 2014 to as high as $14.84 per share in January 2015.
On May 1, 2015, Identiv Inc announced that it “filed a Form 12b-25 with the Securities and Exchange Commission with respect to its annual report on Form 10-K for the period ended December 31, 2014 (the “Annual Report”). Identiv Inc said that it needs additional time to complete the information called for by Item III of Form 10-K, including the executive compensation information (the “Part III Information”) which Identiv Inc was not able to complete by April 30, 2015 (the prescribed due date for the inclusion of the Part III Information in the Company’s Annual Report filing) without unreasonable effort or expense due to the circumstances described below. Identiv Inc said it had been served with a complaint from a former employee alleging, among other things, certain expense reimbursement issues with respect to certain executive officers and certain other employees of the Company. Identiv Inc said that its Board of Directors has formed a special committee (the “Committee”) to investigate the allegations contained in the Complaint and related matters with the assistance of independent counsel.
On May 18, 2015, NASDAQ:INVE shares closed at $6.87 per share.
Those who purchased shares of Identiv Inc (NASDAQ:INVE) 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