NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims against GlobalSCAPE, Inc. (NYSE MKT:GSB). Our investigation concerns whether GlobalSCAPE has violated the federal securities laws and/or engaged in other unlawful business practices.
On August 7, 2017, GlobalSCAPE announced that the Audit Committee of the 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. They further announced that the Company 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.
Following this news, shares of GSB fell $0.83, or nearly 18%, to close at $3.87 on August 8, 2017.
If you purchased or otherwise acquired GlobalSCAPE securities and suffered a loss, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into GlobalSCAPE, Inc., please go to http://www.bespc.com/globalscape. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.