NEW YORK–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/classaction?src=hash” target=”_blank”gt;#classactionlt;/agt;–The law firm of Kirby
McInerney LLP announces that a class action lawsuit has been filed
in the U.S. District Court for the Southern District of New York on
behalf of those who acquired Fusion Connect, Inc. (“Fusion Connect” or
the “Company”) (NASDAQ:FSNN)
securities during the period from August 14, 2018 to April 2, 2019 (the
“Class Period”). Investors have until June 16, 2019 to apply to the
Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that Fusion Connect misled investors by overstating
its earnings (or understating its net loss), including for the quarters
ending June 30, 2018 and September 30, 2018, by failing to properly
account for and capitalize costs associated with the customer
on-boarding process.
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
81.67%, to close at $0.22 per share on April 3, 2019.
If you acquired Fusion Connect securities during the Class Period, have
information, or would like to learn more about these claims, please
contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected],
or by filling out this
contact form, to discuss your rights or interests with respect to
these matters without any cost to you.
Kirby
McInerney is a New York-based plaintiffs’ law firm concentrating in
securities, antitrust, and whistleblower litigation. The firm’s efforts
on behalf of shareholders in securities litigation have resulted in
recoveries totaling billions of dollars. Additional information about
the firm can be found at Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
[email protected]
www.kmllp.com
