SaaS Firm CEO Resigns; Layoffs, Probe Follow | PYMNTS.com

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NS8, a Las Vegas-based online fraud prevention and detection software maker for small and medium-sized businesses (SMBs), has begun layoffs following the abrupt resignation of its CEO.The Las Vegas Review-Journal reported that Adam Rogas resigned on Sept. 1 “with immediate effect,” according to James Holborown, the company’s vice president of communications.“As a result, the board of directors has launched an internal investigation,” Holborown said in a statement. “As this is still an active investigation, we are not providing any detail at this point.”The startup also confirmed on Friday (Sept. 11) that its 225-person workforce would be significantly downsized, as Genevieve Haldeman, the company’s spokeswoman, told the newspaper. The move has caused turmoil and prompted an in-house investigation at the software-as-a-service (SaaS) solution platform.NS8’s decision to trim jobs was prompted by “initial findings of that investigation,” Haldeman said. She declined to provide details of the investigation. But a source who recently joined NS8 told Forbes that employees were informed during a Zoom meeting on Tuesday (Sept. 8) that the Securities and Exchange Commission (SEC) was investigating the company for alleged fraud.“We … were told that our finances were not what we thought they were, and there would …

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