BOSTON--(BUSINESS WIRE)--Berman DeValerio (www.bermandevalerio.com), a national law firm representing investors, is investigating possible securities law violations involving GlobalSCAPE, Inc. (NYSE-MKT: GSB) (“GlobalSCAPE” or the “Company”).
On August 7, 2017, GlobalSCAPE announced that the Audit Committee of the Company’s Board of Directors “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,” and that that “[b]ased on the results of the investigation to date, 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.” The Company states that it “intends to effect a restatement of its previously issued financial statements through filing an amended Annual Report on Form 10-K for the year ended December 31, 2016 and an amended Quarterly Report on Form 10-Q for the quarter ended March 31, 2017.”
If you would like more information regarding this investigation, or if you wish to share information about the investigation, you may contact Jennifer Sosa, Esq., of Berman DeValerio at (800) 516-9926 or by email at firstname.lastname@example.org.
Berman DeValerio is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by violations of securities and antitrust laws. The firm has 38 lawyers in Boston, San Francisco and Palm Beach Gardens, Florida.