Inspired Entertainment (INSE)
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The inquiry is examining the correctness of Inspired Entertainment’s past financial disclosures.
In detail, Inspired disclosed after the market closed on November 8, 2023, that it had failed to adhere to Generally Accepted Accounting Principles (GAAP) concerning the capitalization of costs for developing software. This includes issues with when these costs were recorded as capital expenditures and what types of costs were qualified to be capitalized.
Furthermore, the company advised that due to these discrepancies, its financial statements for the fiscal years ending on December 31 of 2021 and 2022 should not be considered reliable by the investors. This notice also applies to the auditor’s reports for those statements, all interim reports within those years, and the quarterly reports that were filed on May 10 and August 11, 2023.
Following this announcement, the value of Inspired’s stock experienced a significant drop during after-hours trading on November 8, 2023.
