March 3, 2015 (Shareholders Foundation) - An investigation on behalf of investors in shares of Resonant Inc (NASDAQ:RESN) was announced over potential breaches of fiduciary duties by certain officers and directors at Resonant.

The investigation by a law firm concerns whether certain Resonant officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Shares of Resonant Inc (NASDAQ:RESN) grew from $5.12 per share in November 2014 to as high as $19.86 per share on February 12, 2015.

Then on February 26, 2015, Resonant Inc announced financial results and provided a business update for the fourth quarter and year ended December 31, 2014. Among other things, Resonant Inc said that it has delivered a completed duplexer design for consideration to our first customer but the delivered design does not meet all the specifications in the development agreement. Resonant Inc said also said that the customers decision whether to use Resonants design is uncertain and based on a number of considerations, many of which are beyond Resonants control.

Shares of Resonant Inc (NASDAQ:RESN) declined to as low as $9.54 per share on February 27, 2015.