An investigation on behalf of investors in Alfi, Inc. (NASDAQ:ALF) shares over potential wrongdoing at Alfi, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 04/20/2022 -- Certain directors of Alfi, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Alfi, Inc. (NASDAQ: ALF) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Alfi, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
On December 2, 2021, a lawsuit was filed against Alfi, Inc. over alleged violations of Federal Securities Laws. The plaintiff claims that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation.
The plaintiff also alleges that between May 4, 2021 and November 15, 202, the Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies.
More specifically, the plaintiff claims that the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that Alfi, Inc. maintained deficient disclosure controls and procedures and internal control over financial reporting, that as a result, the Company and its employees could and did engage in corporate transactions and other matters without sufficient and appropriate consultation with or approval by the Company's Board of Directors (the "Board"), that all the foregoing increased the risk of internal and regulatory investigations into the Company and its employees, that all the foregoing, once revealed, was likely to have a material negative impact on the Company's reputation, financial condition, and ability to timely file periodic reports with the SEC, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Alfi, Inc. (NASDAQ: ALF) have certain options and should contact the Shareholders Foundation.
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