Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired 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.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.
On March 13, 2018, the Company announced that its earnings 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
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If you purchased shares of Fusion during the Class Period you may move the Court no later than June 17, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190422005594/en/
Contacts:
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
