SAN DIEGO, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP, a law firm specializing in shareholder rights, has announced the initiation of class action lawsuits on behalf of investors of the following companies. Investors are encouraged to review the deadlines listed and submit their information.
Shift4 Payments, Inc: https://www.johnsonfistel.com/investigations/shift4-payments-inc-2
Masimo Corporation: https://www.johnsonfistel.com/investigations/masimo
NAPCO Security Technologies, Inc: https://www.johnsonfistel.com/investigations/napco-security-technologies-2
If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
Shift4 Payments, Inc. (NYSE: FOUR)
Class Period: November 10, 2021 and April 18, 2023
Lead Plaintiff Deadline: October 19, 2023
The lawsuit alleges Shift4 made materially false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and compliance policies, including: (i) Shift4 had inadequate disclosure controls and procedures and internal control over financial reporting; (ii) as a result, Shift4 failed to properly account for customer acquisition costs, thereby artificially inflating its net cash provided by operating activities; (iii) accordingly, Shift4 would likely be forced to restate one or more of its previously issued financial statements; (iv) Shift4 employed accounting maneuvers in connection with, among other things, its mass strategic buyout program and sponsor bank merchant settlement account, that were designed to present an inaccurate picture of the Company’s performance, its underlying business quality, and its earnings power; and (v) all the foregoing, once revealed, was likely to negatively impact Shift4’s reputation and business.
Masimo Corporation (NASDAQ: MASI)
Class Period: February 28, 2023 and July 17, 2023
Lead Plaintiff Deadline: October 23, 2023
The lawsuit alleges Masimo “provided investors with material information concerning Masimo’s revenue and sales for the second quarter of fiscal 2023 and expected revenue for the full-year 2023,” while failing to disclose “material information concerning Defendants’ inability to accurately project sales and revenue.”
NAPCO Security Technologies, Inc. (NASDAQ: NSSC)
Class Period: November 7, 2022 and August 18, 2023
Lead Plaintiff Deadline: October 30, 2023
According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) NAPCO failed to address any material weaknesses with internal controls regarding COGS and inventory; (2) NAPCO downplayed the severity of material weaknesses regarding their internal controls; (3) NAPCO's unaudited financial statements from September 30, 2022 to the present included "certain errors" such as overstating inventory and understanding net COGS, resulting in overstated gross profit, operating income and net income for each period; (4) as a result, NAPCO would need to restate its previously filed unaudited financial statements for certain periods; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
