Shift4 Payments, Inc.

Ticker: FOUR

Class Period Start: 11/10/2021

Class Period End: 04/18/2023

Registration Deadline: 10/19/2023

A securities class action has been filed in the USDC – E.D.PA. against Shift4 Payments, Inc. (FOUR) (“Shift4” or the “Company”) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Shift4 securities between November 10, 2021 through April 18, 2023, both dates inclusive (the “Class Period”).

 

Shift4 provides software and payment processing solutions in the U.S. The Company provides, among other products and services, integrated and mobile point-of-sale (“POS”) solutions.

 

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

  • Shift4 had inadequate disclosure controls and procedures and internal control over financial reporting;
  • as a result, Shift4 failed to properly account for customer acquisition costs, thereby artificially inflating its net cash provided by operating activities;
  • accordingly, Shift4 would likely be forced to restate one or more of its previously issued financial statements;
  • Shift4 employed accounting maneuvers in connection with, among other things, its mass strategic buyout program and sponsor bank merchant settlement account, that were designed to present an inaccurate picture of, inter alia, the Company’s performance, its underlying business quality, and its earnings power;
  • all the foregoing, once revealed, was likely to negatively impact Shift4’s reputation and business; and
  • as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.

 

 If you purchased Shift4 securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

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