IRVINE, Calif., Aug. 24, 2017 /PRNewswire/ -- Khang & Khang LLP (the "Firm") announces the filing of a securities class action lawsuit against GlobalSCAPE, Inc. ("GlobalSCAPE" or the "Company") (NYSE MKT: GSB). Investors who purchased or otherwise acquired shares between January 26, 2017 and August 7, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the October 10, 2017 lead plaintiff motion deadline.
If you purchased GlobalSCAPE shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone at (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive 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 news was announced, shares of GlobalSCAPE declined in value materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or via e-mail at [email protected].
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Joon M. Khang, Esq.
SOURCE Khang & Khang LLP