The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Western District of Texas, San Antonio Division on behalf of investors who purchased GlobalSCAPE, Inc. (NYSEMKT : GSB) securities between January 26, 2017 and August 7, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) GlobalSCAPE 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; (2) GlobalSCAPE's total current assets and total assets were overstated by $292,000; (3) GlobalSCAPE's total stockholder equity and total liabilities and stockholders equity were overstated by $217,000 and $292,000, respectively; (4) GlobalSCAPE lacked adequate internal controls over financial reporting; and (5) consequently, GlobalSCAPE's publicly disseminated financial statements were materially false and misleading.
If you suffered a loss in GlobalSCAPE, Inc. you have until October 10, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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