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 GlobalSCAPE, Inc. (NYSEMKT: GSB) resulting from allegations that GlobalSCAPE may have issued materially misleading business information to the investing public.
On August 7, 2017, during aftermarket hours, GlobalSCAPE revealed that it’s Audit Committee “has been conducting an investigation into certain transactions in the fourth quarter of 2016 involving improper arrangements with customers that circumvented the Company’s internal controls and their potential effect on previously reported revenue.” GlobalSCAPE further revealed that, based on the investigation, “the improper arrangements with customers that circumvented the Company’s internal controls have the effect of overstating the reported amounts of accounts receivable as of December 31, 2016, and license revenue for the three months and year ended December 31, 2016, by approximately $403,000 and $396,000, respectively.”
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by GlobalSCAPE investors. If you purchased shares of GlobalSCAPE between January 26, 2017 and August 7, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1183.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 firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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