Thieler Law Corp advises investors with losses exceeding $100,000 of the October 10, 2017 lead plaintiff deadline in a class action lawsuit filed against GlobalSCAPE Inc (NYSEMKT: GSB) (“GlobalSCAPE” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of New York and investors, who purchased GlobalSCAPE Inc securities between January 26, 2017 and August 7, 2017, have until October 10, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased GlobalSCAPE Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that GlobalSCAPE overstated the reported amounts of accounts receivable as of December 31, 2016, and license revenue for the three months and year ended December 31, 2016, by approximately $403,000 and $396,000, respectively, resulting in the overstatement of the Company’s revenues for those periods by the same amounts; GlobalSCAPE’s total current assets and total assets were overstated by $292,000; GlobalSCAPE’s total stockholder equity and total liabilities and stockholders’ equity were overstated by $217,000 and $292,000, respectively; GlobalSCAPE lacked adequate internal controls over financial reporting; and that as a result, GlobalSCAPE’s publicly disseminated financial statements were materially false and misleading.

On August 7, 2017, the Company revealed that its audit committee "has been conducting an investigation into certain transactions in the fourth quarter of 2016 involving improper arrangements with customers that circumvented the Company's internal controls and their potential effect on previously reported revenue." Additionally, the Company revealed that it "intends to effect a restatement of its previously issued financial statements through filing an amended Annual Report on Form 10-K for the year ended December 31, 2016 and an amended Quarterly Report on Form 10-Q for the quarter ended March 31, 2017."

Following this news, NYSEMKT: GSB fell from $4.70 per share on August 7, 2017 to a closing price of $3.87 on August 8, 2017 -a $0.83 or a 17.66% drop.

If you were negatively impacted by your investment in GlobalSCAPE Inc securities between January 26, 2017 and August 7, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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