SAN FRANCISCO, Nov. 11, 2021 /PRNewswire/ — Hagens Berman urges Alfi, Inc. (NASDAQ: ALF) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
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Alfi, Inc. (ALF) Investigation:
The investigation centers on the accuracy of Alfi’s financial reporting and public disclosures.
In the past, Alfi has claimed its internal controls over financial reporting were sufficient to ensure the reliability of its financial reporting and the preparation of financial reports for external purposes in accordance with Generally Accepted Accounting Principles.
Questions about Alfi’s claims arose on Oct. 28, 2021, when the company announced its board (1) placed each of Alfi’s CEO (Paul Pereira), CFO (Dennis McIntosh), and CTO (Charles Pereira) on administrative leave, and (2) authorized an internal investigation regarding certain corporate transactions and other matters.
Then, on Nov. 1, 2021, the company announced its outside auditor resigned after just 11 days on the job.
These events drove the price of Alfi shares sharply lower.
“We’re focused on investors’ losses and whether Alfi may have misled investors about its compliance with GAAP,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Alfi and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Alfi should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email mailto:[email protected].
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP