On December 21, 2018, TSR, Inc. commenced a lawsuit against Zeff Capital, L.P., Zeff Holding Company, LLC, Daniel Zeff, QAR Industries, Inc., Robert Fitzgerald, Fintech Consulting LLC, and Tajuddin Haslani. The Company stated that the lawsuit generally alleges that the Defendants ‘engaged in an unlawful shadow campaign to pool their ownership interests and resources, solicit proxies for a mutual cause, and seize control of [the Company] without making complete and accurate disclosure of their intentions to [the Company's] stockholders.' The lawsuit further alleges that the Defendants' ‘Schedule 14As and 13Ds fail to disclose, among other things, that they are surreptitiously working as a group to take over the [Company], that their interests directly conflict with that of other stockholders, and that they plan to deliver managerial control of the [Company] to Haslani with the intent that [the Company] eventually be merged into his company Fintech or an affiliated entity.'

Further, the Company stated that although it has failed to schedule or hold its 2018 annual meeting of stockholders, the Company claims that ‘substantial corrective actions are necessary to ensure that [the Company's] stockholders are fully informed before casting their votes at the upcoming annual meeting of stockholders.' Furthermore the Company stated that it seeks a variety of proposed remedies including, among other things, that the Defendants (1) file ‘accurate and complete Schedule 13D and Schedule 14A disclosures'; and (2) be prevented ‘from voting any of their shares prior to such time as [the] court ascertains that [the] Defendants have filed accurate and complete Schedule 13D and Schedule 14A disclosures.