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GBOX.US
id: 566

RYVYL Restatement Losses Case

S.D. California
Court
23-CV-00185
Case number
On January 20, 2023, RYVYL Inc., formerly known as Greenbox POS, announced that its previous financial statements and related audit reports are not reliable and that it plans to file restatements.

The Company stated that the restatement of its financial statements will likely result in lower total revenue, higher net losses, lower total assets, and lower total stockholder equity. The company also disclosed that it has identified one or more material weaknesses in its internal control systems, specifically regarding accounting for complex business transactions.

On this news, RYVYL’s stock fell 14%, seriously damaging investors.

Taking all appeared facts into account, Investors have reasons to suspect that because of RYVYL and its Leaders' actions and omissions, shareholders could suffer damages when the true details entered the market.
Case Status
Attorney Investigation
Alleged Offence
Mismanagement
Financial Misrepresentation
Fraud
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
20 January 2023
Filing date
01 February 2023
Judge
Hon. Gonzalo P. Curiel
Collecting participants…

Greenbox Pos

GreenBox POS, a technology company, engages in the development, marketing, and sale of blockchain-based payment solutions. Its blockchain-based systems facilitate, record, and store a volume of tok...

    Ticker
    GBOX.US
    ISIN
    US39366L2088
    CIK
    1419275
    Sector
    Technology
    Industry
    Software - Infrastructure
    Country
    USA
    Address
    3131 Camino Del Rio North, San Diego, CA, United States, 92108