A lawsuit was filed on behalf of investors in Fusion Connect, Inc. (NASDAQ: FSNN) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/02/2019 -- An investor, who purchased shares of Fusion Connect, Inc. (NASDAQ: FSNN), filed a lawsuit over alleged violations of Federal Securities Laws by Fusion Connect, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Fusion Connect, Inc. (NASDAQ: FSNN) have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2019 NASDAQ: FSNN investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between August 14, 2018 and April 2, 2019, the defendants made false and/or misleading statements and/or failed to disclose that 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 that as a result, Fusion Connect's public statements were materially false and misleading at all relevant times
On March 13, 2018, Fusion Connect, Inc announced that its earning call for the fourth quarter and full year of 2018 would be postponed.
Then, on April 2, 2019, Fusion Connect, Inc 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.
Shares of Fusion Connect, Inc. (NASDAQ: FSNN) declined from $6.22 per share in January 2018. to as low as $0.18 per share on April 3, 2019.
Those who purchased shares of Fusion Connect, Inc. (NASDAQ: FSNN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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