On November 17, 2023, revenue slumped to $108 million to $113 million for the quarter that ended last month, down from a year ago and well short of its guidance for at least $150 million. Pasquale Romano, who had been chief executive officer since 2011, and Chief Financial Officer Rex Jackson were replaced effective Thursday.

The investigation pertains to whether executives at the company misrepresented or failed to timely disclose material and adverse information to investors.