Christine Hunsicker, CEO of fashion-technology firm CaaStle, has resigned following allegations of providing inaccurate financial information to investors.

The company’s board disclosed these claims in a letter to shareholders dated Mar. 29, which was reviewed by Bloomberg News.

The New York-based company, which offers rental subscription services for retailers, is facing severe liquidity issues and is considering liquidation, a wind-down, or a strategic transaction.

The board accused Hunsicker of misrepresenting financial statements, falsifying audit opinions, and misstating capitalization details.

Law enforcement authorities are investigating the matter, and the company is cooperating with the inquiry.