NEW YORK, March 28, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of Global Eagle Entertainment Inc. securities (NASDAQ:ENT) from November 9, 2016 through February 20, 2017, both dates inclusive (the “Class Period”) of the important April 24, 2017 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Global Eagle investors under the federal securities laws.
To join the Global Eagle class action, go to http://www.rosenlegal.com/cases-1058.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Global Eagle’s remediation plans to address the material weaknesses in its internal controls over financial reporting were deficient; and (2) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times. On February 21, 2017, Global Eagle announced that Chief Executive Officer Dave Davis and Chief Financial Officer Tom Severson both resigned effective February 20, 2017. Global Eagle also disclosed that it “expects to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2016 after the March 16, 2017 U.S. Securities and Exchange Commission deadline.” On this news, shares of Global Eagle fell $1.98 per share or over 31.8% over two trading days to close at $4.24 per share on February 22, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 24, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1058.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome.