WANdisco halts share trading and launches fraud probe

0

Technology group WANdisco has warned of a significant drop in 2022 revenues after discovering potential “fraudulent irregularities”. 

The UK- and US-based software group, which this week said it was exploring an additional listing in New York, has requested its shares be suspended from trading on the UK’s Aim market while it conducts an investigation.

The irregularities pertain to “received purchase orders and related revenue and bookings, as represented by one senior sales employee”, WANdisco said on Thursday.

The discovery would “lead to a material uncertainty regarding [the company’s] overall financial position”, it added.

“The board now expects that anticipated full-year 2022 revenue could be as low as $9mn, and not $24mn as previously reported. In addition, the company has no confidence in its announced FY22 bookings expectations.”

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Technology News Click Here 

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
Leave a comment