Vuzix Files Defamation Lawsuit Against Short Seller
ROCHESTER, N.Y., April 6, 2018 /PRNewswire/ -- Vuzix® Corporation ( VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets, announces that the Company has filed a defamation lawsuit against Ricardo Antonio Pearson (aka Richard Pearson) in the Supreme Court of the State of New York, County of New York. Vuzix is seeking damages in excess of $80 million, including punitive damages, money damages and interest.
Ricardo Antonio Pearson, who uses the pseudonym "Richard Pearson," is a veteran short seller. Pearson recently published two "Short and Distort" articles on March 16, 2018 and March 20, 2018, respectively, that are riddled with false, misleading and defamatory statements about Vuzix. Vuzix' Complaint in the court action can be found on the Vuzix website.
"The filing of this lawsuit is a necessary course of action to defend the interests of the Company and all of the Company's shareholders, customers and business partners against false, misleading and defamatory statements made about Vuzix by a malicious short seller. The decision to pursue legal action against the short seller was a unanimous decision by our Board of Directors and is not something that any of us take lightly," commented Vuzix CEO and President Paul Travers. He continued, "Vuzix employees are an extremely proud and humble group of individuals that have and continue to work hard to do things 'the right way' and we will not stand idly by when clearly false and misleading statements and attacks are made against our Company."
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