Investor Alert: Kaplan Fox Announces Investigation Of GlobalSCAPE, Inc.

NEW YORK, Aug. 8, 2017 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of GlobalSCAPE, Inc. ("GlobalSCAPE" or the "Company") (NYSE MKT: GSB).  Investors who purchased shares of GlobalSCAPE common stock may be affected.

On August 7, 2017 after the market closed, GlobalSCAPE announced that "the Audit Committee of the Board of Directors, comprised entirely of independent directors, has been conducting an investigation into certain transactions in the fourth quarter of 2016 involving improper arrangements with customers that circumvented the Company's internal controls. . . ."   The Company says the investigation to date has found that the improper arrangements with customers that circumvented the Company's internal controls resulted in overstating 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. 

On August 7, 2017 as a result of the above developments, the Company also announced that it intends to issue a restatement of its previously issued financial statements by filing an amended Annual Report on Form 10-K for the year ended December 31, 2016 and an amended Quarterly Report on Form 10-Q for the quarter ended March 31, 2017.

If you are an investor in GlobalSCAPE and would like to discuss our investigation, please contact us by emailing [email protected] or by calling 800-290-1952. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: [email protected]

SOURCE Kaplan Fox & Kilsheimer LLP

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