NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Gridsum Holding Inc. (“Gridsum” or “the Company”) (NASDAQGS: GSUM) concerning possible violations of federal securities laws.
On April 23, 2018, Gridsum filed a press release announcing 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 release, the Company’s auditor had determined the presence of “certain issues” relating to “revenue recognition, cash flow, cost, expense items, and their underlying documentation.” Upon this news, shares of Gridsum were down more than 41% on intraday trading on April 23, 2018. To obtain additional information, go to:
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Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.