NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Cantaloupe, Inc. (“Cantaloupe” or the “Company”) CTLP. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Cantaloupe and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On September 28, 2022, after the market closed, Cantaloupe announced that it would not timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2022 because “management had evaluated its effectiveness of its internal controls completes on financial reporting.” The company also stated that it “currently expects to report three material weaknesses in its internal control framework” that relate, among other things, to “the design, implementation and operational effectiveness of controls over revenue and related accounts”.

As a result of this news, Cantaloupe’s stock price fell $0.25 per share, or 6.6%, to close at $3.54 per share on September 29, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980