NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Shift4 Payments, Inc. (NYSE: FOUR) resulting from allegations that Shift4 may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Shift4 securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=15240 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: On April 19, 2023, market analyst Blue Orca Capital issued a report stating, among other things, that “Shift4 engaged in a string of highly questionable and hyperaggressive accounting maneuvers seemingly designed to keep the stock afloat, from cash flow manipulation to inexplicable distributor acquisitions that enabled it to capitalize a major component of COGS.” Further, the report alleges that “Shift4’s CEO began to engage in highly aggressive stock promotion, proclaiming that FOUR is ‘way too cheap’ and that he is ‘absolutely’ considering taking the Company private[,]” however the report alleges that at the same time “Shift4’s CEO also claimed to be a ‘buyer’ when he was, in fact, a net seller of over 1 million shares in 2022, and just weeks before his planned disposal of up to 2 million shares alongside the closing of his [variable prepaid forward (VPF)] contract.”
On this news, Shift4’s stock price fell sharply on April 19, 2023 during intraday trading.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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