Energy News / Shareholders Foundation, Inc.

NYSEMKT:GSB Shareholder Notice: Investigation of Potential Wrongdoing at GlobalSCAPE, Inc

Via: ReleaseWire

Updated 11:00 AM CDT, Wed, October 25,2017

An investigation on behalf of current long term investors in GlobalSCAPE, Inc. (NYSEMKT:GSB) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSEMKT:GSB stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 10/25/2017 -- Certain directors of GlobalSCAPE, Inc. are under investigation concerning possible wrongdoing. The investigation was announced for long-term investors in NYSEMKT:GSB shares over potential breaches of fiduciary duties by certain GlobalSCAPE directors.

Investors in GlobalSCAPE, Inc. (NYSEMKT:GSB) shares should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm for investors in NYSEMKT:GSB stocks follows a lawsuit filed recently against GlobalSCAPE, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSEMKT:GSB stocks, concerns whether certain GlobalSCAPE, directors are liable in connection with the allegations made in that lawsuit. The plaintiff alleges that the defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that 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 by the same amounts, that GlobalSCAPE's total current assets and total assets were overstated by $292,000, that GlobalSCAPE'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, GlobalSCAPE's publicly disseminated financial statements were materially false and misleading.

Those who purchased shares of GlobalSCAPE, Inc. (NYSEMKT:GSB) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nysemktgsb-shareholder-notice-investigation-of-potential-wrongdoing-at-globalscape-inc-881739.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com