GTT Communications, Inc.
Lead Plaintiff Deadline: 03/15/2021
SUMMARY OF CASE:
A securities class action has been filed against GTT Communications, Inc. (GTT) on behalf of all persons or entities that purchased or otherwise acquired GTT publicly traded securities on the NYSE between May 5, 2016 through November 9, 2020. This case has been filed in the USDC – C.D.CA.
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company’s internal controls suffered from issues related to the recording and reporting of Cost of Telecommunications Services; (2) the Company’s previously reported Cost of Telecommunications was inaccurate or accounted for unsupported adjustments; (3) inadequate internal controls would result in delays in the Company’s 10-Q quarterly reports; and (4) as a result of the foregoing, Defendants’ public statements were materially false and/or misleading and/or lacked a reasonable basis.