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ZAGG INC (ZAGG)
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Zagg Inc : The Shuman Law Firm Investigates ZAGG Inc.

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03/09/2013 | 02:05am CEST

The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of ZAGG Inc. ("ZAGG" or the "Company") (Nasdaq: ZAGG). ZAGG designs, manufactures and distributes protective coverings, audio accessories and power solutions for consumer electronic and hand-held devices.

The firm's investigation relates to allegations that Richard Pedersen, Zagg's founder and former CEO, used ZAGG stock as collateral on personal loans and sold to satisfy margin calls. A class action lawsuit filed against the Company alleges that senior ZAGG officers and/or directors became aware of Pedersen's pledging of ZAGG stock as collateral to meet margin calls as early as December 2011 but instead of disclosing that information, initiated a succession plan to replace Pedersen as CEO while concealing the true reason behind Pedersen's departure.

On August 17, 2012, ZAGG announced that Pedersen had resigned for unspecified reasons. However, beginning on August 20, 2012, the truth emerged that Pedersen's departure was "entirely related to the margin calls situation that started last December and unfortunately surfaced again two weeks ago." ZAGG then disclosed that Pedersen had sold 345,000 shares of ZAGG stock on December 21, 2011 and an additional 515,000 shares on August 14, 2012 to satisfy margin calls.

If you currently own ZAGG common stock and are interested in discussing your rights as a shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at [email protected] or email Mr. Glenn at [email protected].

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.

The Shuman Law Firm
Kip B. Shuman, Esq., 866-974-8626
[email protected]
or
Rusty E. Glenn, Esq., 866-974-8626
[email protected]
or
Fax: 303-484-4886
Web: www.shumanlawfirm.com


© Business Wire 2013
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Financials ($)
Sales 2018 564 M
EBIT 2018 55,3 M
Net income 2018 40,2 M
Finance 2018 42,8 M
Yield 2018 -
P/E ratio 2018 12,48
P/E ratio 2019 11,70
EV / Sales 2018 0,82x
EV / Sales 2019 0,69x
Capitalization 506 M
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Technical analysis trends ZAGG INC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 19,0 $
Spread / Average Target 8,6%
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Managers
NameTitle
Chris Ahern Chief Executive Officer & Director
Brian Stech President
Cheryl A. Larabee Chairman
Marshall Clark Vice President-Operations
Bradley J. Holiday Chief Financial Officer
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