Press release
Investigation announced for Investors in shares of Lightwave Logic, Inc. (NASDAQ: LWLG) over potential Wrongdoing
An investigation on behalf of investors in Lightwave Logic, Inc. (NASDAQ: LWLG) shares over potential wrongdoing.
Investors who purchased shares of Lightwave Logic, Inc. (NASDAQ: LWLG) 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 certain Lightwave Logic directors breached their fiduciary duties and caused damage to the company and its shareholders.
Englewood, CO based Lightwave Logic, Inc., a development stage company, focuses on the development of photonic devices and non-linear optical polymer materials systems for fiber-optic data communications and optical computing markets in the United States.
On June 2, 2022, Kerrisdale Capital published a report, titled: "Lightwave Logic, Inc. (LWLG): A High-Frequency Failure," alleges that "underneath the façade of accomplishment … is almost nothing of substance." The report continues, "Lightwave hasn't ever come close to commercializing anything: in the 15 years since it's gone public, it has generated a total of about $6 thousand in revenues, which stands in stark contrast to the steady stream of promotional announcements celebrating overhyped prototype completions, product tests, and patents over that time." The report alleges that "Lightwave's polymer 'technology' is behind the curve and the feasibility of a manufacturing process to commercialize it may never be achieved."
Shares of Lightwave Logic, Inc. (NASDAQ: LWLG) declined from $12.34 per share on April 29, 2022, to as low as $6.50 per share on June 7, 2022.
Those who purchased shares of Lightwave Logic, Inc. (NASDAQ: LWLG) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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