NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Gridsum Holding Inc. (NASDAQ:GSUM) resulting from allegations that Gridsum may have issued materially misleading business information to the investing public.
On April 23, 2018, Gridsum issued a press release announcing that its “audit report for the Company’s financial statements for the year ended December 31, 2016 should no longer be relied upon.” According to the press release, Gridsum’s auditor identified certain issues in conducting its audit of Gridsum’s financial results for the year ended December 31, 2017. Those issues related to “certain revenue recognition, cash flow, cost, expense items, and their underlying documentation which [the auditor] had previously raised” with Gridsum. On this news, shares of Gridsum fell sharply during intraday trading on April 23, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Gridsum investors. If you purchased shares of Gridsum please visit the firm’s website at http://www.rosenlegal.com/cases-1327.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. The Rosen Law Firm was Ranked No. 1 by Institutional Shareholder Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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