NEW YORK, June 14, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Fusion Connect, Inc. (“Fusion Connect” or the “Company”) (FSNN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Fusion securities from August 14, 2018 and April 2, 2019, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/fsnn.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants 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.
On April 2, 2019, Fusion Connect announced that its financial statements for the second and third quarters of 2018 could no longer be relied upon and would need to be restated. The Company also announced that it would be unable to file its 2018 annual report by the April 2, 2019 extension deadline. On this news, Fusion Connect’s stock price fell $0.98 per share, or 81.64%, to close at $0.22 per share on April 3, 2019.
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/fsnn or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Fusion you have until June 17, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org