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DAY.US
id: 1172
Dayforce Inc (DAY) Key Metrics Manipulation Case
- On April 4, 2024, Blue Orca Capital (“BOC Texas, LLC”) published a report accusing Dayforce (DAY) of multiple inappropriate and manipulative practices.
- On it, $DAY fell 0.53%, losing significant shareholder value.
- Investors may have grounds to suspect Dayforce of manipulating its reporting, which led to their losses.
On April 4, 2024, Blue Orca Capital (“BOC Texas, LLC”) published a report accusing Dayforce of highly aggressive revenue recognition and accounting maneuvers aimed at inflating profits.
BOC also claimed that Dayforce manipulates key metrics which
- misleads investors and
- unjustly enriches management whose compensation is tied to such bogus metrics.
Blue Orca adds that Dayforce is a governance mess with
- aggressive accounting;
- misleading non-GAAP metrics;
- insider selling;
- heavy management turnover; and
- an unusual adverse opinion from its auditor.
On this news, $DAY fell 0.53%, and lost significant market capitalization, seriously damaging shareholders.
.
Considering all the information, investors might have grounds to suspect Dayforce of misleading investors and pursuing insiders’ financial interests at the expense of investors, which led to their losses.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
04/04/2024