LOS ANGELES, CA / ACCESSWIRE / September 19, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against GlobalSCAPE, Inc. ("GlobalSCAPE" or the "Company") (NYSE American: GSB) regarding possible violations of federal securities laws from January 26, 2017 through August 7, 2017, inclusive (the "Class Period"). Investors, who purchased or otherwise acquired GlobalSCAPE shares during the Class Period, should contact the firm prior to the October 10, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered to be represented by an attorney. You may choose to do nothing and be an absent class member as well.
According to the Complaint, throughout the Class Period, GlobalSCAPE made false and/or misleading statements and/or failed to disclose: that the Company overstated the reported amounts of accounts receivable as of December 31, 2016, and license revenue for the three months and year ended December 31, 2016, by approximately $403,000 and $396,000, respectively, resulting in the overstatement of the Company's revenues for those periods by the same amounts; that GlobalSCAPE's total current assets and total assets were overstated by $292,000; that the Company's total stockholder equity and total liabilities and stockholders' equity were overstated by $217,000 and $292,000, respectively; that GlobalSCAPE lacked adequate internal controls over financial reporting; and that, as a result of the above, the Company's publicly disseminated financial statements were materially false and misleading. When this information went public, shares of GlobalSCAPE fell in value materially, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
This press release may be considered Attorney Advertising in certain jurisdictions under the applicable law and rules of ethics.
Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
SOURCE: Lundin Law PC
