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Investigation announced for Investors in OneSpan Inc. (NASDAQ: OSPN) over potential Wrongdoing

11-14-2020 01:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in OneSpan Inc. (NASDAQ: OSPN) shares.

An investigation on behalf of current long term investors in OneSpan Inc. (NASDAQ: OSPN) shares.

Certain directors of OneSpan Inc are under investigation concerning potential breaches of fiduciary duties.

Investors who are current long term investors in OneSpan Inc. (NASDAQ: OSPN) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: OSPN stocks follows a lawsuit filed against OneSpan Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: OSPN stocks, concerns whether certain OneSpan directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of Illinois the plaintiff alleges that the Defendants made false and/or misleading statements and/or failed to disclose that OneSpan had inadequate disclosure controls and procedures and internal control over financial reporting, that as a result, OneSpan overstated its revenue relating to certain contracts with customers involving software licenses in its financial statements spread out over the quarters from the first quarter of 2018 to the first quarter of 2020, that as a result, it was foreseeably likely that the Company would eventually have to delay one or more scheduled earnings releases, conference calls, and/or financial filings with the SEC, that OneSpan downplayed the negative impacts of errors in its financial statements, that all the foregoing, once revealed, was foreseeably likely to have a material negative impact on the Company's financial results and reputation, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of OneSpan Inc. (NASDAQ: OSPN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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