An investigation for investors in Cantaloupe, Inc. (NASDAQ:CTLP) shares over potential securities laws violations by Cantaloupe, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 10/10/2022 -- An investigation was announced over potential securities laws violations by Cantaloupe, Inc. in connection with certain financial statements.
Investors who purchased shares of Cantaloupe, Inc. (NASDAQ: CTLP), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Cantaloupe, Inc. (NASDAQ: CTLP regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Malvern, PA based Cantaloupe, Inc., a digital payment and software services company, provides technology solutions for the unattended retail market. On September 28, 2022, the company issued a report stating, "Based on progress made to date in the assessments of the effectiveness of internal controls over financial reporting, the Company currently expects to report three material weaknesses in its internal control framework. This includes the design, implementation and operating effectiveness of information technology general controls in the areas of user access, change management and segregation of duties within various systems that support the Company's accounting and reporting processes, the design, implementation and operating effectiveness of controls over revenue and related accounts, and risk assessment and monitoring activities with respect to identifying and evaluating control deficiencies in a timely manner."
Shares of Cantaloupe, Inc. (NASDAQ: CTLP) declined from $6.71 per share on August 17, 2022, to as low as $3.45 per share on September 30, 2022.
Those who purchased shares of Cantaloupe, Inc. (NASDAQ: CTLP) have certain options and should contact the Shareholders Foundation.
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