NEW YORK, Dec. 28, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Cantaloupe, Inc. (“Cantaloupe” or the “Company”) (NASDAQ: CTLP, OTCMKTS: CTLPP) on behalf of Cantaloupe stockholders. Our investigation concerns whether Cantaloupe has violated the federal securities laws and/or engaged in other unlawful business practices.
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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."
On this news, Cantaloupe stock fell $0.17 per share, or 4.6%, to close at $3.47 per share on September 29, 2022.
If you purchased or otherwise acquired Cantaloupe shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.