December 14, 2018 - The case was voluntarily dismissed.

July 24, 2018 - An investor in shares of Vuzix Corporation (NASDAQ:VUZI) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Vuzix Corporation in connection with certain allegedly false and misleading statements made between November 9, 2017, and March 20, 2018.

According to the complaint the plaintiff alleges on behalf of persons and entities that a) acquired Vuzix Corporation (NASDAQ:VUZI) securities pursuant and/or traceable to the Company’s false and/or misleading registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s January 2018 secondary public offering (“SPO” or the “Offering”); and/or, b) acquired Vuzix securities between November 9, 2017, and March 20, 2018, that the defendants violated Securities Act of 1933 and the Securities Exchange Act of 1934.More specifically, the plaintiff claims that defendants failed to disclosethat Vuzix used unlawful stock promotion tactics to boost the Company’s stock price, that Vuzix Corporation used misleading stock promotion tactics to raise nearly $30 million at an all-time high share price, and that, as a result of the foregoing, Defendants’ statements in the Registration Statement regarding Vuzix’s business, operations, and prospects, were materially false and/or misleading.

On March 16, 2018, a report was issued stating “Vuzix Corporation recently used an undisclosed stock promotion involving dozens of mainstream media outlets to artificially inflate the share price and volume, and then raise $30 million.”