LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Shift4 Payments, Inc. (“Shift4” or the “Company”) (NYSE: FOUR) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On April 19, 2023, Blue Orca Capital published a report alleging that Shift4 “engaged in a string of highly questionable and hyperaggressive accounting maneuvers seemingly designed to keep the stock afloat” including “cash flow manipulation” and “inexplicable distributor acquisitions that enabled it to capitalize a major component of COGS.” Blue Orca Capital also alleges that Shift4 engaged in unreported related-party transactions and that the Company’s questionable accounting maneuvers “inflated 2022 gross profit by 13%, Adj. EBITDA by 34%, and operating income by close to 3x.”
On this news Shift4’s share price fell approximately 10% during intraday trading on April 19, 2023, thereby injuring investors.
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If you purchased Shift4 securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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