Cases
Frontier Communications Corporation
Securities Class Action
Overview
Overview
- Date:
- 9/27/2017
- Company Name:
- Frontier Communications Corporation
- Stock Symbol:
- FTR
- Class Period:
- FROM 2/6/2015 TO 5/2/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Connecticut
NEW YORK, September 27, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of Connecticut on behalf of all persons or entities who purchased or otherwise acquired Frontier Communications Corporation (NASDAQ: FTR) securities between February 6, 2015 and May 2, 2017 (the “Class Period”). Investors have until November 27, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that Defendants made materially false and/or misleading statements by failing to disclose: (1) that the Company acquired a substantial number of non-paying accounts as part of its acquisition of the wireline operations of Verizon Communications, Inc.; (2) that, as a result, the Company would be required to increase its reserves, and write off amounts from accounts receivable associated with the non-paying accounts; and (3) that, as a result of the foregoing, Defendants statements about Frontiers business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Frontier securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The Complaint alleges that Defendants made materially false and/or misleading statements by failing to disclose: (1) that the Company acquired a substantial number of non-paying accounts as part of its acquisition of the wireline operations of Verizon Communications, Inc.; (2) that, as a result, the Company would be required to increase its reserves, and write off amounts from accounts receivable associated with the non-paying accounts; and (3) that, as a result of the foregoing, Defendants statements about Frontiers business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Frontier securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.