Inquiries are being looked into by Pomerantz LLP on behalf of Cantaloupe, Inc. (“Cantaloupe” or the “Company”) investors (NASDAQ: CTLP). Robert S. Willoughby can be reached at newaction@pomlaw.com or 888-476-6529, ext. 7980, if such investors wish to do so.

Whether Cantaloupe and a few of its officials and/or directors have engaged in securities fraud or other unethical business activities is the subject of the investigation.
Cantaloupe stated that company would not timely file its annual report on Form 10-K for the fiscal year ended June 30, 2022 because “management is concluding its assessment of the effectiveness of its internal controls over financial reporting” on September 28, 2022, after the market closed. The company added that it “now expects to report three serious weaknesses in its internal control architecture,” three of which were connected to “the design, implementation, and operating effectiveness of controls over revenue and related accounts,” among other things.
On hearing this news, Cantaloupe’s stock price dropped $0.25 a share, or 6.6%, to conclude the day of September 29, 2022 at $3.54 per share.

One of the top law companies in the fields of corporate, securities, and antitrust class litigation is Pomerantz LLP, which has offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv. The late Abraham L. Pomerantz, dubbed the dean of the class action bar, founded Pomerantz, a company that helped establish the class action market for securities. More than 85 years later, Pomerantz upholds the legacy he started by advocating for the rights of those who have been the victims of corporate wrongdoing, fiduciary obligation violations, and securities fraud. On behalf of class members, the Firm has successfully secured multiple multimillion dollar damages awards.

Source: Prnewswire