The inquiry centers on a series of disclosures beginning May 11, 2026, when the firm reported a 4 percent decline in services revenue to $57.2 million. Management attributed the results to softer performance among Tier 1 customers and admitted to inconsistency in its software and services divisions. Investors reacted sharply, pushing the share price down to $5.13.
Market volatility deepened on June 17, 2026, when Chief Financial Officer John Gallagher announced his resignation. The departure prompted an additional 8.13 percent decline in the company’s stock value the following day. Pomerantz LLP is now seeking to determine if these financial setbacks and management shifts represent systemic corporate misconduct or breaches of fiduciary duty.
Comments (0)
No comments yet. Be the first!