On or around 07/06/2017 (Ongoing date of last review)
Filing Date: July 05, 2017
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) certain defendants engaged in an accounting fraud scheme that misled investors; (2) certain defendants stole more than $4 million from Quadrant 4 System; (3) certain defendants caused Quadrant 4 System to understate its liabilities and inflate its revenues and assets and evaded scrutiny by lying to Quadrant 4 System’s auditors and providing them with forged and doctored documents; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Dean Brown, et al. v. Quadrant 4 System Corp., et al.