BENSALEM, Pa., March 07, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces an investigation on behalf of MicroStrategy Incorporated investors (“MicroStrategy” or the “Company”) (NASDAQ: MSTR) concerning the Company and its officers’ possible violations of federal securities laws.
On or around December 31, 2018, MicroStrategy had cash and cash equivalents and short-term investments of $576.1 million, as compared to $675.2 million as of December 31, 2017, a decrease of $99.1 million. The Company “expects to report a material weakness in its internal control over financial reporting as of December 31, 2018 in its upcoming Annual Report on Form 10-K for the year ended December 31, 2018. The material weakness relates to general information technology controls in the areas of user access, program change-management and other matters impacting information technology systems that support MicroStrategy’s financial reporting processes.” On this news, shares of MicroStrategy fell significantly, thereby injuring investors.
If you purchased MicroStrategy securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com