The Brualdi Law Firm, P.C. Announces Class Action Lawsuit Against Resonant, Inc.
New York, March 19, 2015 — The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of Resonant, Inc. (“Resonant” or the “Company”) (NASDAQ: RESN) common stock during the period between August 14, 2014 and February 26, 2015 (the “Class Period”) for violations of federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Resonant common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by May 18, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact The Brualdi Law Firm, P.C.
The Complaint alleges that Resonant issued materially false and misleading statements to investors and/or failed to disclose that: (1) there were errors in Resonant’s financial statements for the three and six months ended June 30, 2014 and 2013; (2) Resonant’s disclosure controls and procedures were not effective as of June 30, 2014; and (3) Resonant would be unable to meet Milestone 4 pursuant to its development agreement in the first quarter of 2015. The Complaint also alleges that when the truth was revealed to investors, the price of Resonant shares fell, damaging investors.
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