NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces the commencement of an investigation of GlobalSCAPE, Inc. (NYSEMKT:GSB) concerning possible violations of federal securities laws.
On August 7, 2017, the Company 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.” GlobalSCAPE further revealed that “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.”
If you suffered a loss in GlobalSCAPE and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kkclasslaw.com/GSB-Info-Request-Form-199.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.