A lawsuit was filed on behalf of investors in Gogo Inc. (NASDAQ: GOGO) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 07/17/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Gogo Inc. (NASDAQ: GOGO), filed a lawsuit over alleged violations of Federal Securities Laws by Gogo Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Gogo Inc. (NASDAQ: GOGO) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Gogo Inc. (NASDAQ: GOGO) common shares between February 27, 2017 and May 7, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 27, 2017 and May 7, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Gogo's 2Ku antenna had more reliability issues than the public was led to believe, that Gogo's 2Ku antennas required costly installation and remediation challenges or required replacement due to deicing fluids from planes infiltrating the 2Ku system as well as manufacturing and software issues, that consequently, Gogo would not be able to meet its previously issued 2018 guidance, and that as a result, the company's financial statements were materially false and misleading at all relevant times.
On May 4, 2018, Gogo Inc. announced its first quarter 2018 financial results, disclosing it was "withdrawing its previously provided 2018 guidance for Adjusted EBITDA, airborne Cash CAPEX, and airborne equipment inventory purchases related to airline-directed installations, as well as Free Cash Flow guidance."
Those who purchased shares of Gogo Inc. (NASDAQ: GOGO) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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