openPR Logo
Press release

Lawsuit for Investors in shares of GTT Communications Inc (NYSE: GTT) filed

08-14-2019 08:15 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in GTT Communications Inc (NYSE: GTT) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in GTT Communications Inc (NYSE: GTT) shares over alleged securities laws violations.

An investor, who purchased shares of GTT Communications Inc (NYSE: GTT), filed a lawsuit over alleged violations of Federal Securities Laws by GTT Communications Inc in connection with certain allegedly false and misleading statements.

Investors who purchased shares of GTT Communications Inc (NYSE: GTT) have certain options and for certain investors are short and strict deadlines running. Deadline: September 30, 2019. NYSE: GTT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

In February 2018, GTT Communications Inc announced that it was purchasing Interoute Communications Holdings S.A. (“Interoute”), a telecommunications company that operated Europe’s largest cloud services platform in a transformational $2.3 billion acquisition that essentially doubled GTT Communications Inc’s size.

On May 8, 2019, when GTT Communications Inc disclosed a larger than expected loss for the first quarter of 2019, including a sequential decline in revenues.

The plaintiff alleges that GTT Communications Inc blamed its poor performance on a host of issues with the Interoute Communications Holdings S.A. integration, including migrating legacy systems into GTT’s management database, discrepancies with Interoute Communications Holdings’ billing systems, and a poor salesforce. GTT Communications Inc further disclosed that shortly before the acquisition, Interoute Communications Holdings S.A. had made a strategic shift to sell cloud services that deviated from GTT’s core cloud networking business.

The plaintiff claims that between February 26, 2018 and July 1, 2019, the GTT assured investors that it had conducted extensive due diligence on Interoute Communications Holdings S.A. , and the acquisition was a natural strategic fit for GTT—that the two companies “fit together almost hand in glove.” After the deal closed, GTT assured investors that Interoute Communications Holdings’ integration into the Company was “on track” and “not as complex” as many of the Company’s previous integrations.

Shares of GTT Communications Inc (NYSE: GTT) declined from $62.00 per share in March 2018 to as low as $11.92 per share on July 30, 2019.

Those who purchased shares of GTT Communications Inc (NYSE: GTT) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit for Investors in shares of GTT Communications Inc (NYSE: GTT) filed here

News-ID: 1822397 • Views: 394

More Releases from Shareholders Foundation

Investigation announced for Long-Term Investors in NYSE: TAP shares over potenti …
An investigation was announced for current long-term investors in shares of Molson Coors Brewing Company (NYSE: TAP) concerning potential breaches of fiduciary duties by certain directors of Molson Coors Brewing Company. Investors who are current long term investors in Molson Coors Brewing Company (NYSE: TAP) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current
Investigation announced for long-term Investors in shares of Spectrum Brands Hol …
An investigation on behalf of current long-term investors in shares of Spectrum Brands Holdings, Inc. (NYSE: SPB) concerning potential breaches of fiduciary duties by certain directors and officers of Spectrum Brands Holdings, Inc. was announced. Investors who are current long term investors in Spectrum Brands Holdings, Inc. (NYSE: SPB) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a
Deadline on August 26th upcoming in Lawsuit filed for Investors in FedEx Corpora …
The Shareholders Foundation announces that a deadline is coming up on August 26, 2019 in the lawsuit filed for certain investors of FedEx Corporation (NYSE: FDX) over alleged securities laws violations by FedEx. Investors who purchased shares of FedEx Corporation (NYSE: FDX) have certain options and there are strict and short deadlines running. Deadline: August 26, 2019. NYSE: FDX stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779
Lawsuit filed for Investors who purchased shares of 3M Company (NYSE: MMM)
An investor, who purchased shares of 3M Company (NYSE: MMM), filed a lawsuit over alleged violations of Federal Securities Laws by 3M Company in connection with certain allegedly false and misleading statements. Investors who purchased shares of 3M Company (NYSE: MMM) have certain options and for certain investors are short and strict deadlines running. Deadline: September 27, 2019. NYSE: MMM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858)

All 5 Releases


More Releases for GTT

Optical Wavelength Services Market Grow By Leading Industry Players Zayo Group, …
ReportsnReports always aims at offering their clients an in-depth analysis and the best research material of the various market. This new report on the global Optical Wavelength Services Market is committed fulfilling the requirements of the clients by giving them thorough insights into the market. An exclusive data offered in this report is collected by research and industry experts team. Get Free Sample Copy at https://www.reportsnreports.com/contacts/requestsample.aspx?name=2126438 . The Global Optical Wavelength Services
Telecom Managed Services Market 2019 Top Key Players: Amdocs, AT&T, CenturyLink …
Telecom Managed Service Market Overview: Industries are thriving with efficient communication technology. The most to reap the benefits is the IT sector,and it is due to the assistance of the telecom managed services IT infrastructure is becoming robust. The global telecom managed service market is anticipated to grow with 14% CAGR during the forecast period (2017-2023) and surpass a valuation of USD 26 billion. The telecom managed services market is gaining
Telecom Managed Services Market 2018 Global Key Players: IBM, Amdocs, Cisco Syst …
Market Synopsis: The telecom managed services help organizations in maintaining the IT infrastructure thereby helping organizations to focus on business activities and strategies. Managed Services are typically offered to cover service functions critical to the business. The need for operational efficiency and security are driving organizations to adopt telecom managed services. Managed Services also entail the ability to manage the customer end-to-end solutions by offering active-monitoring features to the provided solution
Telecom Managed Services Market Is Booming Worldwide | Cisco Systems, Comarch S. …
HTF MI recently introduced Global Telecom Managed Services Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Amdocs (US), AT&T (US), CenturyLink (US), Cisco Systems, Inc. (US),
Telecom Managed Services Market 2018 – 2023 Global Key Players: IBM, Amdocs, A …
Market Synopsis: The rising adoption of telecom managed services among SME to lower operational and capital expenditures are primarily driving the global telecom managed service market. The global telecom managed services market is segmented into service type, organization size, and region. However, lack of data security in data managed services is restraining the market growth. Hughes Network Systems, an American enterprise and leading provider of satellite communication services, is offering their managed services
International Wholesale Carriers - Growing Popularity and Mergers & Acquisitions …
A new independent 34 page research with title 'International Wholesale Carriers - Ecosystem Players’ Evolution - Mergers & Acquisitions, Open Initiatives, and Potential New Entrants in the Digital Transformation Era' guarantees you will remain better informed than your competition. The study covers geographic analysis that includes regions and important players/vendors such as Liquid Telecom, Microsoft, Neotel, Neural Path, Optic Zoo Networks With n-number of tables and figures examining