LOS ANGELES, CA / ACCESSWIRE / November 21, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Inspired Entertainment, Inc. ("Inspired" or "the Company") (NASDAQ:INSE) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Inspired announced on November 8, 2023, that it would require more time to prepare the financial statements for the third quarter of 2023 as well as to restate certain previous statements. According to the Company, "In connection with the preparation of the financial statements of the Company for the quarterly period ended September 30, 2023, the Company, in consultation with its current independent registered public accounting firm, KPMG LLP, identified certain accounting errors relating to the compliance with U.S. GAAP in connection with the Company's accounting policies for capitalizing software development costs. The errors relate primarily to the application of the relevant accounting standards to projects, including the timing of capitalization with respect to software development projects and the nature of costs eligible for capitalization. The Company is currently undertaking a review of other financial statement line items and related accounting policies to ensure U.S. GAAP compliance. The Company is currently unable to determine whether this review will result in further adjustments being required."
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm