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New Federal Securities Cases

Quadrant 4 System Corp.

A class action lawsuit was filed in the United States District Court for the District of New Jersey against Quadrant 4 System Corp. ("Quadrant 4" or the "Company") (OTC:QFOR), on behalf of a class of investors who acquired Quadrant 4 securities during the period from August 14, 2012 through June 30, 2017 (the "Class Period"). The lawsuit seeks to recover damages for Quadrant 4 investors under the federal securities laws.

According to the lawsuit, defendants throughout the Class Period failed to disclose that: (1) defendant Nandu Thondavadi, former CEO of Quadrant 4 and defendant Dhru Desai, former CFO of Quadrant 4, engaged in an accounting fraud scheme that misled investors; (2) defendants Thondavadi and Desai stole more than $4 million from Quadrant 4; and (3) defendants Thondavadi and Desai caused Quadrant 4 to understate its liabilities and inflate its revenues and assets and evaded scrutiny by lying to Quadrant 4's auditors and providing them with forged and doctored documents.

On November 30, 2016, the Department of Justice charged Nandu Thondavadi with misrepresenting the Company's financial condition. On this news, the stock price fell from $0.19 to $0.03 per share. On June 30, 2017, the SEC charged the Company, Nandu Thondavadi and Dhru Desai with accounting fraud. On this news, the price fell from $0.02 to $0.012 per share, damaging investors.

If you acquired Quadrant 4 securities during the Class Period, you may, no later than September 4, 2017, request that the court appoint you lead plaintiff of the proposed class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former Quadrant 4 shareholder and wish to obtain additional information, please fill out the contact form at the link below.

Investigation Contact Form

Quadrant 4 System Corp. Contact Form


Ira M. Press

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