Quadrant 4 System Corp. delivers information technology solutions in the Manufacturing, Media, Retail, Healthcare and Services sectors.

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.

On October 3, 2017, pursuant to a Stipulation by the Parties, the Court dismissed this case.