The Shuman Law Firm Investigates IZEA Worldwide, Inc.
October 19, 2018
DENVER–(BUSINESS WIRE)–The
Shuman Law Firm announces that it is investigating potential
shareholder claims against certain officers and directors of IZEA
Worldwide, Inc. (“IZEA” or the “Company”) (Nasdaq: IZEA).
IZEA creates and operates online marketplaces that connect marketers and
content creators.
On February 26, 2018 IZEA announced that in connection with the
preparation of the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2017, the Company’s Audit Committee of the Board
of Directors (the “Audit Committee”) determined that there was an error
in accounting for revenue and cost of sales related to the self-service
Content Workflow portion of the company’s revenue, and that as a result
of additional review procedures necessitated by the accounting
adjustments the Company needed additional time to file its Annual Report
on Form 10-K for the year ended December 31, 2017. Following these
events, a class action lawsuit was filed against the Company and certain
of its senior officers and directors alleging violations of federal
securities laws.
Shares of IZEA fell $0.66 per share, or over 18%, on April 2, 2018,
after the announcement that the Company would be late filing its 10-K,
to close at $3.00 per share. The stock price then continued to fall the
following trading day, and dropped another $0.58 per share, or over 19%,
to close at $2.42 per share on April 3, 2018. The stock price has
continued to decline and currently trades at approximately $1.64 per
share.
If you currently own IZEA common stock and are interested in discussing
your rights, or have information relating to this investigation, please
contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or
email Mr. Shuman at kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
Contacts
The Shuman Law Firm
Kip B. Shuman, Esq., 866-569-4531
kip@shumanlawfirm.com
or
Rusty
E. Glenn, Esq., 866-569-4531
rusty@shumanlawfirm.com
or
Fax:
303-536-7849
www.shumanlawfirm.com