LOS ANGELES, July 24, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Quadrant 4 System Corporation (“Quadrant” or the “Company”) (Other OTC:QFOR) for possible violations of federal securities laws between August 14, 2012 and June 30, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the September 5, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Quadrant made false and/or misleading statements and/or failed to disclose: that former CEO Nandu Thondavadi and former CFO Dhru Desai engaged in an accounting fraud scheme that misled investors; that Thondavadi and Desai stole more than $4 million from the Company; that Thondavadi and Desai caused the Company to understate its liabilities, inflate its revenues and assets and evaded scrutiny by lying to Quadrant’s auditors and providing them with forged and doctored documents; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. When this information reached the public, shares of Quadrant fell in value materially, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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