Troubled tech firm WANdisco has confirmed it is subject to an investigation by the Financial Conduct Authority following "potentially fraudulent" activity coming to light.
The Sheffield and California-based data specialist posted an update to the London Stock Exchange this morning in which it said it had been notified of an investigation into certain financial statements made between January 1, 2022 and March 9, 2023. WANdisco said these statements "may have materially mis-stated the company's financial position."
It follows the emergence of major concerns at the tech company which centre around potentially fraudulent activity undertaken by one salesperson. The significant "irregularities" could reduce the firm's stated 2022 revenue by as much as £12.6m ($15m), taking it from £20.2m ($24m) to just £7.5m ($9m).
