Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 19, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Shift4 Payments, Inc. (NYSE: FOUR) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Shift4 investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Market research firm Blue Orca Capital released a report on April 19, 2023, which accused Shift4 of utilizing a series of questionable accounting practices to keep the stock price up, including cash flow manipulation and unusual distributor acquisitions that allowed the company to capitalize a major component of cost of goods sold. The report also claimed that Shift4's CEO engaged in aggressive stock promotion, claiming that the company was undervalued and that he was considering taking it private, while at the same time selling more than a million shares in 2022 and planning to dispose of up to two million shares in conjunction with the closing of his variable prepaid forward contract. Shift4's stock price plummeted on the day of the report's release.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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