SAN DIEGO, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Shift4 Payments, Inc. (NYSE:FOUR) securities between November 10, 2021 and April 18, 2023. Shift4 provides software and payment processing solutions in the U.S.
For more information, submit a form, email Aaron Dumas, Jr., or give us a call at (800) 350-6003.
What is this Case About: Shift4 Payments, Inc. (FOUR) Failed to Properly Account for Customer Acquisition Costs
According to the complaint, defendants failed to disclose that: (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; and (iii) accordingly, Shift4 would likely be forced to restate one or more of its previously issued financial statements. Additionally, 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, inter alia, the Company's performance, its underlying business quality, ...