According to the law firm press release, the lawsuit alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Global 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; (ii) the Company's total current assets and total assets were overstated by $292,000; (iii) the Company's total stockholder equity and total liabilities and stockholders' equity were overstated by $217,000 and $292,000, respectively; (iv) the Company lacked adequate internal controls over financial reporting; and (v) that as a result, Global's publicly disseminated financial statements were materially false and misleading.
GlobalSCAPE, Inc. Securities Litigation
Aug 23, 2017 | GlobalSCAPE, Inc. AMEX: GSB | Case Status: Settled
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First Identified Complaint
Anthony Giovagnoli, et al. v. GlobalSCAPE, Inc., et al.
First Identified Complaint Filings
|#||Document Title||Filing Date|
|1||Complaint for Violations of the Federal Securities Laws||August 9th, 2017|
|2||U.S. District Court Civil Docket||August 9th, 2017|