NEW YORK, Aug. 8, 2017 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP
(www.kaplanfox.com) is investigating claims on behalf of investors
of GlobalSCAPE, Inc. ("GlobalSCAPE" or the "Company") (NYSE MKT:
GSB). Investors who purchased shares of GlobalSCAPE common
stock may be affected.
On August 7, 2017 after the market
closed, GlobalSCAPE announced that "the Audit Committee of the
Board of Directors, comprised entirely of independent directors,
has been conducting an investigation into certain transactions in
the fourth quarter of 2016 involving improper arrangements with
customers that circumvented the Company's internal controls. . .
." The Company says the investigation to date has found
that the improper arrangements with customers that circumvented the
Company's internal controls resulted in overstating the reported
amounts of accounts receivable as of December 31, 2016, and license revenue for the
three months and year ended December 31,
2016, by approximately $403,000 and $396,000, respectively.
On August 7, 2017 as a result of
the above developments, the Company also announced that it intends
to issue a restatement of its previously issued financial
statements by filing an amended Annual Report on Form 10-K for the
year ended December 31, 2016 and an
amended Quarterly Report on Form 10-Q for the quarter ended
March 31, 2017.
If you are an investor in GlobalSCAPE and would like to discuss
our investigation, please contact us by emailing
pmayer@kaplanfox.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions
about this Notice, the action, your rights, or your interests,
please contact:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 687-1980
Fax: (212) 687-7714
E-mail: ffox@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP