Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Fenix Parts, Inc. (FENX)

NEW YORK, Jan. 13, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Fenix Parts, Inc. (“Fenix Parts” or the “Company”) (NASDAQ:FENX) in the United States District Court for the District of New Jersey on behalf of purchasers of common stock of Fenix Parts between May 14, 2015 and October 12, 2016 (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

According to the Complaint, Defendants made false and/or misleading statements and/or failed to disclose that its inventory valuation methods were inadequate; that its tools to calculate goodwill impairment were inadequate; that it was participating and/or had participated in activity that would lead to an SEC investigation; and that as a result, Fenix’s statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.  When this information was released to the public, the value of Fenix stock fell severely, causing investors harm.

If you wish to serve as lead plaintiff, you must move the Court no later than March 13, 2017.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

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