NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of GlobalSCAPE, Inc. ("GlobalSCAPE") (NYSEMKT:GSB) between January 26, 2017 and August 7, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Western District of Texas, San Antonio Division. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) GlobalSCAPE overstated 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, resulting in the overstatement of the Company's revenues for those periods; (2) GlobalSCAPE's total current assets and total assets were overstated by $292,000; (3) GlobalSCAPE's total stockholder equity and total liabilities and stockholders' equity were overstated by $217,000 and $292,000, respectively; (4) GlobalSCAPE lacked adequate internal controls over financial reporting; and (v) consequently, GlobalSCAPE's publicly disseminated financial statements were materially false and misleading.
If you suffered a loss in GlobalSCAPE you have until October 10, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.