SAN DIEGO, May 23, 2019 /PRNewswire/ -- Johnson Fistel,
LLP with the assistance of former California Deputy Attorney General and Special
Counsel, Tiffany Johnson, Esq., is
investigating potential claims against Verint Systems Inc.
("Verint") (NASDAQ: VRNT) for violations of federal securities
laws.
On May 23, 2019, securities
research firm Spruce Point Capital Management ("Spruce Point")
published a critical research report conveying Verint's true
business metrics and financial prospects, saying that in reality it
was merely an antiquated call-center software company.
According to Spruce Point, contrary to the Company's claims, Verint
had "fallen far behind the industry's evolving technological
standards" and was employing an "aggressive" acquisition strategy
and "dubious" accounting to make up for its slow growth.
Spruce Point also represented, based on its research, that Verint's
ongoing proxy battle with shareholder Neuberger Berman had revealed
"atrocious" corporate governance standards.
Following this news, the price of Verint common stock price
declined $5.68 per share to close at
$55.49 per share on May 23, 2019, a decline of more than 9%, erasing
more than $371 million in market
capitalization.
If you have information that could assist in this
investigation, including past employees and others, or if you are a
Verint shareholder and are interested in learning more about the
investigation or your legal rights and remedies, please contact
Jim Baker
(jimb@johnsonfistel.com) by email or phone at 619-814-4471. If
emailing, please include a phone number.
Additionally, you can [click here to join this
action]. There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[click here to join this action].
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SOURCE Johnson Fistel, LLP