BOSTON, Oct. 12, 2020 (GLOBE NEWSWIRE) -- On August 4, 2020, OneSpan, Inc. (NASDAQ: OSPN) announced that it was delaying the release of its second quarter 2020 financial results due to revenue recognition problems relating to certain software license contracts. One week later, on August 11, 2020, OneSpan stunned the market when it announced that the revenue recognition problems lasted multiple years, that same quarter year-over-year revenues had declined; and that OneSpan was withdrawing its full year 2020 earnings guidance just one quarter after reiterating it. On this news, shares of OneSpan stock fell approximately 40% on August 12, 2020.
Block & Leviton LLP ( www.blockleviton.com ), a national securities litigation firm, reminds investors that a lawsuit for violation of the federal securities laws has been filed against OneSpan and certain of its executives. The lawsuit is pending in the U.S. District Court for the Northern District of Illinois, and is captioned Almendariz v. OneSpan, Inc., et al. , No. 1:20-cv-4906.
If you purchased or acquired shares of OneSpan between May 9, 2018 and August 11, 2020 and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockleviton.com , or at https://www.blockleviton.com/cases/ospn . The lead plaintiff deadline is October 19, 2020.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com