NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Quadrant 4 Systems Corp. (“Quadrant” or the “Company”) (OTC:QFOR).
The investigation focuses on whether the Company and its executives violated federal securities laws. On November 30, 2016, the U.S. Department of Justice (“DOJ”) announced that it had charged then current Quadrant Chief Executive Officer Nandu Thondavadi (the former “CEO”) with misrepresenting Quadrant’s cash flows and concealing its liabilities in Securities and Exchange Commission (“SEC”) filings. On this news, shares of Quadrant 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 Quadrant’s former CEO, 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.
If you invested in Quadrant stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/QFOR. There is no cost or obligation to you.
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