Former California Deputy Attorney General and Special Counsel with Johnson Fistel Launches Investigation into Verint Systems Inc. (VRNT)

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May 23, 2019, 20:51 ET

SAN DIEGO, May 23, 2019 /PRNewswire/ -- Johnson Fistel, LLP with the assistance of former California Deputy Attorney General and Special Counsel, Tiffany Johnson, Esq., is investigating potential claims against Verint Systems Inc. ("Verint") (NASDAQ: VRNT) for violations of federal securities laws.

On May 23, 2019, securities research firm Spruce Point Capital Management ("Spruce Point") published a critical research report conveying Verint's true business metrics and financial prospects, saying that in reality it was merely an antiquated call-center software company. According to Spruce Point, contrary to the Company's claims, Verint had "fallen far behind the industry's evolving technological standards" and was employing an "aggressive" acquisition strategy and "dubious" accounting to make up for its slow growth. Spruce Point also represented, based on its research, that Verint's ongoing proxy battle with shareholder Neuberger Berman had revealed "atrocious" corporate governance standards.

Following this news, the price of Verint common stock price declined $5.68 per share to close at $55.49 per share on May 23, 2019, a decline of more than 9%, erasing more than $371 million in market capitalization.

If you have information that could assist in this investigation, including past employees and others, or if you are a Verint shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP