An investigation on behalf of investors in Shift4 Payments, Inc. (NYSE: FOUR) shares over potential wrongdoing at Shift4 Payments, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/19/2023 -- Certain directors of Shift4 Payments, Inc are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Shift4 Payments, Inc. (NYSE: FOUR) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Shift4 Payments, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Allentown, PA based Shift4 Payments, Inc. provides software and payment processing solutions in the United States. On April 19, 2023, Blue Orca Capital issued a report outlining its concerns with Shift4 Payments, Inc.. The report alleges that "its CEO faced the threat of a margin call from an unusually large series of stock pledges, creating an existential threat that he would be forced to liquidate up to 10 million shares (12% of diluted shares outstanding)." As a result, Blue Orca alleges that "With the specter of a margin call hanging over the stock, we think that Shift4 engaged in a string of highly questionable and hyper aggressive accounting maneuvers seemingly designed to keep the stock afloat, from cash flow manipulation to inexplicable distributor acquisitions that enabled it to capitalize a major component of COGS." Shares of Shift4 Payments, Inc. (NYSE: FOUR) declined from $75.90 per share on April 12, 2023, to $57.88 per share on April 19, 2023.
Those who purchased shares of Shift4 Payments, Inc. (NYSE: FOUR) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.