An investigation on behalf of current long term investors in Fusion Connect, Inc. (NASDAQ: FSNN) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ: FSNN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/24/2019 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Fusion Connect, Inc.
Investors who are current long term investors in Fusion Connect, Inc. (NASDAQ: FSNN) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: FSNN stocks follows a lawsuit filed against Fusion Connect, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: FSNN stocks, concerns whether certain Fusion Connect directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges 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
New York based Fusion Connect, Inc. provides integrated cloud solutions to small, medium, and large businesses. Its proprietary service platform enables the integration of solutions in the cloud, including cloud voice and unified communications, contact center, cloud connectivity, and cloud computing, as well as additional cloud services, such as storage and security.
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.
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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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