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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of GTT Communications, Inc. - GTT

·2 min read

NEW YORK, NY / ACCESSWIRE / January 30, 2021 / Pomerantz LLP is investigating claims on behalf of investors of GTT Communications, Inc. ("GTT" or the "Company") (NYSE:GTT). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether GTT and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On August 10, 2020, GTT filed a notice with the U.S. Securities and Exchange Commission, disclosing that the Company was "unable to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 . . . within the prescribed time period without unreasonable effort or expense. In the course of closing the Company's books for the quarter ended June 30, 2020, the Company identified certain issues related to the recording and reporting of Cost of Telecommunications Services and related internal controls." GTT further stated that its "management and the Audit Committee, with assistance from outside counsel and consultants, are reviewing . . . these issues and assessing the effect, if any, on the Company's financial statements for the quarter ended June 30, 2020 and previously issued financial statements, as well as whether there are any material weaknesses in the Company's internal controls."

On this news, GTT's stock price fell $0.65 per share, or over 11%, to close at $4.96 per share on August 11, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP



View source version on accesswire.com:
https://www.accesswire.com/626905/SHAREHOLDER-ALERT-Pomerantz-Law-Firm-Investigates-Claims-On-Behalf-of-Investors-of-GTT-Communications-Inc--GTT