NEW YORK, Aug. 21, 2023 (GLOBE NEWSWIRE) —
- Do you, or did you, own shares of Shift4 Payments, Inc. FOUR?
- Did you purchase your shares between November 10, 2021 and April 18, 2023, inclusive?
- Did you lose money in your investment in Shift4 Payments, Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Shift4 Payments, Inc. (“Shift4” or the “Company”) FOUR between November 10, 2021 and April 18, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Eastern District of Pennsylvania and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Shift4 securities, and/or would like to discuss your legal rights and options please visit Shift4 Payments, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or [email protected].
According to the Complaint, Shift4 provides software and payment processing solutions in the U.S. The Company provides, among other products and services, integrated and mobile point-of-sale (“POS”) solutions.
Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period. Among other things, Defendants failed to disclose to investors that: (i) Shift4 had inadequate disclosure controls and procedures and internal control over financial reporting; (ii) as a result, Shift4 failed to properly account for customer acquisition costs, thereby artificially inflating its net cash provided by operating activities; (iii) accordingly, Shift4 would likely be forced to restate one or more of its previously issued financial statements; (iv) Shift4 employed accounting maneuvers in connection with, among other things, its mass strategic buyout program and sponsor bank merchant settlement account,…