FORT LAUDERDALE, Fla., March 20, 2017 (GLOBE NEWSWIRE) -- In the wake of a detailed news report by Jeff Ostrowski of The Palm Beach Post titled “NFL Players Stung By Losses in West Palm Beach Company,” concerning penny stock company Hawk Systems, Inc. (“Hawk Systems”), trading under the symbol HWSY, the Lerman Law Firm (Cathy Jackson Lerman, P.A.), has initiated an investigation into the activities of Hawk Systems and its subsidiary, Hawk Biometric Technologies, Inc. (“Hawk Biometric”).
The Lerman Law Firm is investigating claims that NFL players who became investors in Hawk were used to “bait” the elderly to invest in the company. In addition, the Lerman Law Firm has learned that some investors may have unknowingly purchased shares of stock in Hawk Systems or Hawk Biometric, which were never authorized, and were illegally issued and sold.
According to a press release issued by Mark Spanakos, who is the named Plaintiff in a shareholder derivative suit filed against Hawk Systems and others in Palm Beach County, millions of shares of Hawk stock are still trading. Yet Hawk never made a profit and incurred millions of dollars in net losses.
“What is probably most shocking is that no one in the state of Florida, including the Attorney General Pam Bondi, law enforcement, the SEC, the IRS or the FBI has to date done anything to help these investors/victims. We need to find out what happened to the millions of dollars of investor money, and determine if Hawk Systems or Hawk Biometric stock was illegally sold, or if elderly investors were illegally targeted,” stated Cathy Lerman, principal of the Lerman Law Firm.
If you currently own stock in Hawk Systems or Hawk Biometric and wish to obtain additional information about the investigation or wish to provide information to assist in the Lerman firm’s investigation, please contact Cathy Lerman via email at clerman@lermanfirm.com or by telephone at (954) 332-1143.