Mastech Digital, Inc. (MHH)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Mastech Digital, Inc. (“Mastech” or the “Company”) (NYSE: MHH). Investors who purchased Mastech securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Mastech has violated federal securities laws.
On November 2, 2022, Mastech issued a press release announcing the Company’s financial results for the third quarter of 2022. Among other items, Mastech disclosed that the Company “experienced a cyber-security breach of a single employee email account for which we reserved $450,000 related to the costs of engaging cyber-security advisors to assist us in properly closing this matter and for other potential losses associated with the breach. Also, during the quarter, we made a decision in the Data and Analytics Services segment to close our underperforming operations in Singapore and Ireland and to rationalize our operating cost structure in the UK. Accordingly, we reserved $120,000 of severance expense related to these actions.” In addition, Mastech reported that gross margins declined due to low utilization and a $0.3 million cost over-run on a fixed price project”. Following this news, Mastech’s stock price fell $1.56 per share, or 10.17%, to close at $13.75 per share on November 2, 2022.
If you are aware of any facts relating to this investigation or purchased Mastech shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.