NEW YORK, Oct. 19, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Cantaloupe, Inc. (“Cantaloupe” or the “Company”) (NASDAQ: CTLP). Such investors are advised to contact Robert S. Willoughby at [email protected]om or 888-476-6529, ext. 7980.
The investigation concerns whether Cantaloupe and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 28, 2022, after the market closed, Cantaloupe announced that it would not timely file its annual report on Form 10-K for the fiscal year ended June 30, 2022 due to “management finalizing its assessment of the effectiveness of its internal controls over financial reporting.” The Company also stated that it “currently expects to report three material weakness in its internal control framework” related to, among other things, “the design, implementation and operating effectiveness of controls over revenue and related accounts.”
On this news, Cantaloupe’s stock price fell $0.25 per share, or 6.6%, to close at $3.54 per share on September 29, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP