Robbins Arroyo LLP Is Investigating the Officers and Directors of GlobalSCAPE, Inc. (GSB) on Behalf of Shareholders

Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of GlobalSCAPE, Inc. GSB breached their fiduciary duties to shareholders. GlobalSCAPE, together with its subsidiaries, develops and distributes software that provides secure information exchange, file transfer, and file sharing for enterprises and consumers worldwide.

View this press release on the firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/globalscape/

GlobalSCAPE Accused of Overstating Its Financial Figures

Investors of GlobalSCAPE filed a securities class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between January 26, 2017 and August 7, 2017. According to the complaint, Global officials assured investors of the effectiveness of the company's internal control over financial reporting in Global's public filings. In reality, Global had overstated accounts receivable, revenues, total assets, and total stockholder equity by hundreds of thousands of dollars. On August 7, 2017, Global disclosed that its audit committee was investigating transactions in 4Q 2016 related to improper arrangements with customers that circumvented the company's internal controls and their potential effect on previously reported revenue. Global further stated that it intends to restate prior financial statements in an amended Form 10-K for the year ended December 31, 2016, and an amended Form 10-Q for the quarter ended March 31, 2017. On this news, Global's stock fell over 17% to close at $3.87 per share on August 8, 2017. Since then, Global's stock has fallen even further, closing at only $3.56 per share on December 12, 2017.

GlobalSCAPE Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171213006229/en/