The Shareholders Foundation announces an investigation on behalf of investors of LoJack Corporation (NASDAQ:LOJN) shares was launched over potential securities laws violations by LoJack and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of LoJack Corporation (NASDAQ:LOJN) 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 LoJack Corporation (NASDAQ:LOJN) concerning whether a series of statements by LoJack regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
LoJack Corporation reported that its annual Total Revenue rose from $132.53 million in 2012 to $140.21 million in 2013 and that its Net Loss of $8.38 million in 2012 turned into a Net Income of $3.17 million in 2013.
Shares of LoJack Corporation (NASDAQ:LOJN) grew from $1.98 per share in November 2012 to as high as $6.61 per share in March 2014.
On Octobr 30, 2014, LoJack Corporation reported its financial results for the third quarter of 2014 and appointed a new CFO. LoJack Corporation announced the appointment of Kenneth L. Dumas, CPA, as Chief Financial Officer, effective November 10, 2014. LoJack Corporation also announced that its plan to consolidate its Canadian operations to reduce costs and more closely align this business with its U.S. operations. LoJack Corporation said that as a result of this plan, it expects to incur a pre-tax charge of approximately $2.4 million in the fourth quarter of 2014, comprised of$2.0 million of severance and other employee-related costs and $0.4 million related to contractual lease obligations. Sharers of LoJack Corporation (NASDAQ:LOJN) declined to as low as $2.62 per share on October 31, 2014.
On November 17, 2014, NASDAQ:LOJN shares closed at $2.85 per share.
Those who purchased shares of LoJack Corporation 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