NEW YORK, April 29, 2023 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation into potential securities claims on behalf of shareholders of Shift4 Payments, Inc. FOUR based on allegations that Shift4 may have disclosed materially misleading business information to the investing public.
SO WHAT: If you have purchased Shift4 securities, you may be entitled to compensation without payment of expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.
WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=15240 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email email@example.com or firstname.lastname@example.org for information about the Class Action.
WHAT IS THIS ABOUT: On April 19, 2023, market analyst Blue Orca Capital issued a report stating, among other things, “Shift4 has engaged in a series of highly questionable and hyper-aggressive accounting maneuvers that appear to be aimed at keeping the stock afloat, of cash flow manipulations to inexplicable acquisitions of distributors that enabled it to capitalize on a key component of COGS.” Additionally, the report claims that “Shift4’s CEO began engaging in a highly aggressive stock promotion by announcing that FOUR was ‘far too cheap’ and that he was ‘absolutely’ considering privatizing the company[,]However, the report claims that at the same time, “Shift4’s CEO also claimed to be a ‘buyer’ when in fact he was a net seller of over 1 million shares in 2022, and just a few weeks before his proposed sale of up to 2 million shares in addition to the closure of his [variable prepaid forward (VPF)] Contract.”
As a result of this news, Shift4’s share price fell $5.95, or 8%, due to unusually high trading volume, to close at $62.59 per share on April 19, 2023.
WHY ROSES LAW: We encourage investors to seek qualified advisors with a track record in…