Shift4 investors may receive additional information about the investigation by clicking the link "Submit Your Information" above.
Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of purchasers of Shift4 Payments, Inc. (NYSE: FOUR) securities.
On April 19, 2023, market analyst Blue Orca Capital issued a report stating, among other things, that “Shift4 engaged in a string of highly questionable and hyper aggressive accounting maneuvers seemingly designed to keep the stock afloat, from cash flow manipulation to inexplicable distributor acquisitions that enabled it to capitalize a major component of COGS.” Additionally, the report revealed that "Shift4's CFO abruptly left the Company the day before its Q2 2022 earnings call, amidst a lengthy string of correspondence with the SEC over its accounting. Its auditor warned of a material weakness over internal controls the very next quarter, just as it spent $256.4 million in a string of M&A that enabled it to capitalize a material share of COGS."
Following this news, Shift4’s stock price fell more than 12% during intraday trading on April 19, 2023.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.