LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) continues its investigation on behalf of GlobalSCAPE, Inc. (“GlobalSCAPE” or the “Company”) (NYSEMKT:GSB) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the GlobalSCAPE investigation page on our website at www.glancylaw.com/case/globalscape-inc.
On August 7, 2017, GlobalSCAPE disclosed that its 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.” The Company further disclosed that, based on the investigation, “the improper arrangements with customers that circumvented the Company’s internal controls” had resulted in an overstatement of “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.”
On this news, the Company’s stock price fell approximately 17% on August 8, 2017, thereby injuring investors.
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If you purchased GlobalSCAPE securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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