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Lawsuit filed for Investors in shares of Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL)

09-17-2020 09:15 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL) shares.

A lawsuit was filed on behalf of investors in Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL) shares.

An investor, who purchased shares of Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL), filed a lawsuit in the U.S. York over alleged violations of Federal Securities Laws by Gol Linhas Aéreas Inteligentes S.A.

Investors who purchased shares of Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL) have certain options and for certain investors are short and strict deadlines running. Deadline: November 10, 2020. NYSE: GOL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

In the fiscal 2019 annual report, Gol Linhas Aéreas Inteligentes S.A.’s auditor, KPMG raised significant concerns about the Company’s accounting, including that Gol Linhas Aéreas Inteligentes S.A. lacked "(i) effective policies and procedures related to the identification and disclosure of material uncertainties in the going concern analysis and (ii) effective review of financial statement information, and related presentation and disclosure requirements."
Then, on July 23, 2020, Gol Linhas Aéreas Inteligentes S.A. announced the termination of KPMG as its external auditor.

Shares of Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL) closed on August 20, 2020, at $6.35 per share.

The plaintiff claims that between March 14, 2019 and July 22, 202, the defendants made false and/or misleading statements and/or failed to disclose that Gol Linhas Aéreas Inteligentes S.A. had material weaknesses in its internal controls, that there was substantial doubt as to the Company’s ability to continue to exist as a going concern because of negative net working capital and net capital deficiency, and that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant time.. When the true details entered the market, the lawsuit claims that investors suffered damages.

Those who purchased shares of Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL) 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.

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