According to the lawsuit, defendants made false and/or misleading statements regarding the Company’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that:
- the Company maintained deficient internal controls relating to its use of licensed software and expense management;
- as a result of these deficiencies, the Company improperly used third-party evaluation software for business purposes over a multi-year period;
- investigation and remediation of the foregoing— i.e., by paying vendors the full cost to use their software for business purposes—would cause the Company to incur significant expenses; and
- as a result, the Company’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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