16/07/2019 01:07:00

Hagens Berman Reminds MicroStrategy (MSTR) Investors of the Firm’s Investigation of Possible Disclosure Violations

SAN FRANCISCO, July 15, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and eighty attorneys, reminds investors in MicroStrategy Incorporated (NASDAQ: MSTR) of the Firm’s pending investigation of possible disclosure violations.

If you purchased or otherwise acquired MicroStrategy securities before July 8, 2019 and suffered losses or have information that may assist the firm’s investigation contact Hagens Berman:

https://www.hbsslaw.com/investor-fraud/MSTR

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

MSTR@hbsslaw.com

.

The investigation centers on MicroStrategy’s financial reporting.  On January 29, 2019, the Company disclosed material weaknesses in its internal controls over financial reporting.  Particularly, MicroStrategy’s auditor, KPMG, found that ineffective process controls in the implementation of new IT systems rendered MicroStrategy susceptible to being unable to detect or correct material misstatements in its financial reports.  The Company, however, downplayed the deficiencies, assuring investors that the Company had made no misstatements in its financial statements and that the material weaknesses would be remediated.

Then, on July 8, 2019, the Company announced the resignations of two senior executives, Kevin Norlin, Senior Executive Vice President of Worldwide Sales, and Stephen H. Holdridge, Senior Executive Vice President of Worldwide Services.  The Company further revealed that its current CFO, Phong Le, had been reassigned to head of sales and that the Company would begin a search for a new CFO.

This news drove the price of MicroStrategy sharply lower on July 8, 2019.

“We’re focused on investors’ losses and whether MicroStrategy may have misled investors regarding its financial results and internal controls over financial reporting,” said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding MicroStrategy should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email MSTR@hbsslaw.com.

About Hagens Berman

Hagens Berman is a national law firm representing investors, whistleblowers, workers and consumers in complex litigation.  More about the firm and its successes is located at hbsslaw.com.  For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 510-725-3000

Hagens Berman Sobol Shapiro LLP Logo

Del

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
23 Aug
GEN
For Genmab investorer bliver september måned en hot affære - der kommer i hvert fald en stribe nyhed..
42
25 Aug
VELO
Det er interessant at kigge på Veloxis vækst og nuværende position i markedet for at regne frem til ..
39
21 Aug
I:NDX
Trump er en forretningsmand, der bevæger sig med en forretningsmands hastighed. Han er fløjtende lig..
21
22 Aug
 
Jeg synes hun gjorde det fremragende i sagen om Grønland og Trump.   Det vigtigste i en sådan situat..
20
20 Aug
VELO
Ny artikel på Medwatch:   15,5 pct. af amerikanske patienter, der får en nyretransplantation i dag, ..
20
20 Aug
PNDORA
  har du læst regnskabet - de forventer at tjene 4 mia i 2019 i forhold til en værdi af selskabet på..
18
24 Aug
GOMX
Har aktien:   GOMSPACE: TECKNAR AVTAL MED ESA VÄRT 1,4 MLN EUR 19:26STOCKHOLM (Nyhetsbyrån Direkt) R..
15
23 Aug
VELO
Netop i denne måned har jeg været på EuroInvestor i 1 år og manglede, for at sige det mildt, baggrun..
15
20 Aug
GEN
Lige i dette tilfælde er der måake ikke det vilde nye - men det er stadig data på disse konference d..
15
23 Aug
PNDORA
@Fqvist1 - ser er du er short fra 257, jf. din orientering d. 20.08. Jeg vil gerne gentage udbygge m..
14

#

EuroInvestor: In Focus
#

#

EuroInvestor: In Focus
#

#

EuroInvestor: In Focus
#

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Maha Energy AB (publ) (“Maha” or the “Company”) Announces Filing of Second Quarter Report and Live Webcast
2
Texas Clinic of Chiropractic Declares Its Grand Opening in New Braunfels, Texas
3
FRIDAY DEADLINE ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Acer Therapeutics Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
4
PRF: Consolidated Unaudited Interim Report of AS PRFoods for the 4th quarter and 12 months of 2018/2019 financial year
5
Acron Group’s H1 2019 IFRS Net Profit Increases Five Fold to USD 263 Million

Latest news


Copyright Berlingske Media 2019  Cookie- and Privacy policy  |  Cookies  |   General terms of trade  |   Terms of use and IP rights
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
26 August 2019 11:05:21
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20190819.1 - EUROWEB4 - 2019-08-26 12:05:21 - 2019-08-26 11:05:21 - 1000 - Website: OKAY