Inspired Entertainment (INSE)

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Portnoy Law Firm
Lesley F. Portnoy, Esq.,
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067

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.