An investigation for investors in Verint Systems Inc. (NASDAQ: VRNT) shares over potential securities laws violations by Verint Systems Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/05/2019 -- Verint Systems Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Verint Systems Inc. (NASDAQ: VRNT), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Verint Systems Inc. (NASDAQ: VRNT) concerning whether a series of statements by Verint Systems Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Melville, NY based Verint Systems Inc. provides actionable intelligence solutions worldwide. Verint Systems Inc reported that its Total Revenue rose from over $1.13 billion for the 12 months period that ended on January 31, 2018 to over $1.22 billion for the 12 months period that ended on January 31, 2019 and that its Net Loss of $6.62 million turned into a Net Inomce of $65.99 million over those respective time periods.
On May 23, 2019, a report was published a conveying Verint Systems' true business metrics and financial prospects, saying that in reality it was merely an antiquated call-center software company. According to the report, contrary to the Company's claims, Verint Systems Inc had "fallen far behind the industry's evolving technological standards" and was employing an "aggressive" acquisition strategy and "dubious" accounting to make up for its slow growth. The report also represented, based on its research, that Verint Systems' ongoing proxy battle with shareholder Neuberger Berman had revealed "atrocious" corporate governance standards.
Shares of Verint Systems Inc. (NASDAQ: VRNT) declined on May 23, 2019 to $54.56 per share.
Those who purchased shares of Verint Systems Inc. (NASDAQ: VRNT) have certain options and should contact the Shareholders Foundation.
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