ZAGG Incorporated (ZAGG)

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ZAGG Shareholders Upset Over Strategic Review Process (Seek to file Lawsuit)- (via Business Journal)

March 24, 2020
Tags: United States ZAGG Affairs Mergers & Acquisitions

A group of ZAGG, Inc. shareholders are upset with the Board of Directors of the Company for suspending its review of strategic alternatives that commenced on August 6, 2019 . At the time of the review, the stock was trading at almost $7 per share. Following the decision of the Board to terminate the review, the stock fell below $3 per share.

The shareholders allege that the Board breached their fiduciary duties to shareholders by engaging in a flawed process. In addition, shareholders allege that insiders of ZAGG may have obtained personal benefits for their own self interests as a result of the flawed sale resulting in a depressed stock price to which certain member(s) have since acquired shares for their own personal interests.

ZAGG investor relations did not immediately respond to requests for a comment.

If you purchased shares of ZAGG prior to August 6, 2019 and still own some of those shares and you have suffered a loss on your investment, you are eligible to contact the law firm on behalf of shareholders of ZAGG for more information as to how you can participate with other shareholders in seeking to potentially recover your losses at no cost or expense. Contact the law firm Tripp Levy PLLC toll free at 800.511.7037 or email at contact @ tripplevy.com

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