NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Quadrant 4 System Corp. (OTC: QFOR) resulting from allegations that QFOR may have issued materially misleading business information to the investing public.
On November 30, 2016, the U.S. Department of Justice announced that it had charged then current QFOR CEO Nandu Thondavadi with misrepresenting QFOR’s cash flows and concealing its liabilities in Securities and Exchange Commission (“SEC”) filings. On this news, shares of QFOR fell $0.16 per share or over 80%’s to close at $0.03 per share on December 1, 2016, damaging investors. On June 30, 2017, the SEC announced that it had charged QFOR, former chief executive officer Nandu Thondavadi, and former chief financial officer Dhru Desai in an accounting fraud scheme that misled investors and allowed the former executives to siphon millions from the firm for their personal benefit.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by QFOR investors. If you purchased shares of QFOR on or before June 30, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1155.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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