Inspired Entertainment, Inc. (INSE) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings
News provided byACCESSWIRE
Nov 20, 2023, 8:00 AM ET
NEW YORK, NY / ACCESSWIRE / November 20, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Inspired Entertainment, Inc. ("Inspired" or "the Company") (NASDAQ:INSE). Investors who purchased Inspired securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/inse.
The investigation concerns whether Inspired has violated federal securities laws.
On November 8, 2023, Inspired announced that it did not comply with Generally Accepted Accounting Principles regarding capitalization of software development costs including "the timing of capitalization with respect to software development projects and the nature of costs eligible for capitalization." As a result, Inspired advised investors that they should no longer rely upon the Company's previously issued annual financial statements for the years ended December 31, 2021 and 2022, associated auditor reports, the interim quarterly reports for those years, and its quarterly reports filed on May 10 and August 11, 2023. Inspired also disclosed that "one or more additional material weaknesses exist in the Company's internal control over financial reporting" and that the Company would restate its consolidated financial statements for the periods in question. On this news, Inspired's stock price fell sharply during intraday trading on November 9, 2023.
If you are aware of any facts relating to this investigation or purchased Inspired securities, you can assist this investigation by visiting the firm's site: bgandg.com/inse. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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SOURCE: Bronstein, Gewirtz & Grossman, LLC
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