BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Fusion Connect, Inc. (“Fusion” or the “Company”) (NASDAQ: FSNN) securities between August 14, 2018 and April 2, 2019, inclusive (the “Class Period”). Fusion investors have until June 17, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Fusion investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On March 13, 2018, the Company announced that its earning call for the fourth quarter and full year of 2018 would be postponed. Then, on April 2, 2019, the Company disclosed certain accounting errors related to a 2018 acquisition and stated that previously issued financial statements should no longer be relied upon. Fusion also relayed that additional accounting errors would further delay the filing of its 2018 Form 10-K.
On this news, shares of Fusion fell $0.98 per share, or over 81%, over several trading sessions to close at $0.22 on April 3, 2019, thereby injuring investors.
The complaint filed in this class action alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Fusion Connect’s earnings for the quarters ended June 30, 2018 and September 30, 2018 were overstated due to the insufficient precision in the process by which certain of its Birch Communications Holdings, Inc. subsidiaries capitalized costs; and (2) as a result, Fusion Connect’s public statements were materially false and misleading at all relevant times
If you purchased shares of Fusion, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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