LOS ANGELES, Aug. 30, 2017 /PRNewswire/ -- Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Quadrant 4 System Corporation ("Quadrant 4" or the "Company") (Other OTC: QFOR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission ("SEC").
Investors who purchased the Company's shares between August 14, 2012 and June 30, 2017, inclusive (the "Class Period"), are encouraged to contact the firm before September 5, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm's website at http://www.goldberglawpc.com/, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Quadrant 4 made false and/or misleading statements, and/or failed to disclose material information, to investors. On November 30, 2016, the U.S. Department of Justice announced that it charged then-current CEO Nandu Thondavadi with misrepresenting the Company's cash flows and concealing its liabilities in SEC filings. On this news, Quadrant 4's stock price fell dramatically. On June 30, 2017, the SEC announced charges against the Company, former CEO Nandu Thondavadi, and former CFO Dhru Desai, for an accounting fraud scheme that misled investors and allowed the former executives to take millions of dollars from the Company for their personal benefit. Following this news, Quadrant 4's stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE Goldberg Law PC