NEW YORK, NY / ACCESSWIRE / April 27, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Shift4 Payments, Inc. ("Shift4" or "the Company") (NYSE:FOUR). Investors who purchased Shift4 securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/four.
The investigation concerns whether Shift4 has violated federal securities laws.
On April 19, 2023, Blue Orca Capital published an article stating that "Shift4 engaged in a string of highly questionable and hyperaggressive 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." The article continues to allege that "Shift4's CEO began to engage in highly aggressive stock promotion, proclaiming that FOUR is ‘way too cheap' and that he is ‘absolutely' considering taking the Company private[,]" and that "Shift4's CEO also claimed to be a ‘buyer' when he was, in fact, a net seller of over 1 million shares in 2022, and just weeks before his planned disposal of up to 2 million shares alongside the closing of his [variable prepaid forward (VPF)] contract." Following this news, Shift4 stock dropped $5.95 per share, or 8%, to close at $62.59 on April 19, 2023.
If you are aware of any facts relating to this investigation or purchasedShift4 shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/four. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC