NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of RYVYL Inc. (“RYVYL” or the “Company”) (NASDAQ: RYVL). Investors who purchased RYVYL securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/ryvl.
The investigation concerns whether RYVYL has violated federal securities laws.
On January 20, 2023, RYVYL announced that its financial statements from December 31, 2021, and on, as well as the related audit report of its previous independent registered public accounting firm, “can no longer be relied upon” and that it would file restatements. RYVYL also announced that it “is expected that the restatement of the financial statements for the annual and interim periods referred to above will result in decreases to total revenue, increased net losses, decreases to total assets, and decreased total stockholder’s equity.” Additionally, RYVYL disclosed that it had reassessed the effectiveness of its internal controls and “has determined that one or more material weaknesses exist in the Company’s internal control including a material weakness related to accounting for certain complex business transactions.” Following this news, RYVYL stock dropped 14.4% to close at 70 cents per share on January 23, 2022, on unusually heavy trading volume.
If you are aware of any facts relating to this investigation or purchased RYVYL shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/ryvl. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.