SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of GlobalSCAPE, Inc. (GSB)
NEW YORK, Aug. 8, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of GlobalSCAPE, Inc. ("GlobalSCAPE" or the "Company") (NYSE-MKT: GSB). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/gsb.
The investigation concerns whether GlobalSCAPE and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 7, 2017, after-market hours, GlobalSCAPE disclosed that it's Audit Committee "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 and their potential effect on previously reported revenue." The Company also said that based on the investigation, "the improper arrangements with customers that circumvented the Company's internal controls have the effect of 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."
If you are aware of any facts relating to this investigation, or purchased shares of GlobalSCAPE, you can assist this investigation by visiting the firm's site: www.bgandg.com/gsb. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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