An investigation for investors in Shift4 Payments, Inc. (NYSE: FOUR) shares over potential securities laws violations.
An investigation was announced over potential securities laws violations by Shift4 Payments, Inc. in connection with certain financial statements.
Investors who purchased shares of Shift4 Payments, Inc. (NYSE: FOUR), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Shift4 Payments, Inc. (NYSE: FOUR) concerning whether a series of statements by Shift4 Payments, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Allentown, PA based Shift4 Payments, Inc. provides software and payment processing solutions in the United States. Shift4 Payments, Inc. reported that its annual Total Revenue rose from $766.9 million in 2020 to over $1.367 billion in 2021, and that its Net Loss increased from $18.4 million in 2020 to $48.2 million in 2021.
On April 19, 2023, Blue Orca Capital issued a report outlining its concerns with Shift4 Payments, Inc.. The report alleges that “its CEO faced the threat of a margin call from an unusually large series of stock pledges, creating an existential threat that he would be forced to liquidate up to 10 million shares (12% of diluted shares outstanding).” As a result, Blue Orca alleges that “With the specter of a margin call hanging over the stock, we think that Shift4 engaged in a string of highly questionable and hyper aggressive accounting maneuvers seemingly designed to keep the stock afloat, from cash flow manipulation to inexplicable distributor acquisitions that enabled it to capitalize a major component of COGS.”
Shares of Shift4 Payments, Inc. (NYSE: FOUR) declined from $75.90 per share on April 12, 2023, to $57.88 per share on April 19, 2023.
Those who purchased shares of Shift4 Payments, Inc. (NYSE: FOUR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.