Fusion Connect, Inc. (NASDAQ: FSNN) Investor Securities Class Action Lawsuit 04/17/2019

If you purchased a significant amount of shares of Fusion Connect, Inc. (NASDAQ: FSNN) between August 14, 2018 and April 2, 2019, and / or if you purchased any NASDAQ: FSNN shares prior to August 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2019 NASDAQ: FSNN investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Fusion Connect
Case Name: 
Fusion Connect Shareholder Class Action Lawsuit 04/17/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: FSNN
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/17/2019
Class Period Begin: 
08/14/2018
Class Period End: 
04/02/2019
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
06/17/2019
Summary: 

An investor in shares of Fusion Connect, Inc. (NASDAQ: FSNN) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Fusion Connect, Inc. in connection with certain allegedly false and misleading statements made between August 14, 2018 and April 2, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Fusion Connect, Inc. (NASDAQ: FSNN) common shares between August 14, 2018 and April 2, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 14, 2018 and April 2, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Fusion Connect’s earnings for the quarters ended June 30, 2018 and September 30, 2018 were overstated due to the insufficient precision in the process by which certain of its Birch Communications Holdings, Inc. subsidiaries capitalized costs, and that as a result, Fusion Connect’s public statements were materially false and misleading at all relevant times
New York based Fusion Connect, Inc. provides integrated cloud solutions to small, medium, and large businesses. Its proprietary service platform enables the integration of solutions in the cloud, including cloud voice and unified communications, contact center, cloud connectivity, and cloud computing, as well as additional cloud services, such as storage and security.
On March 13, 2018, Fusion Connect, Inc announced that its earning call for the fourth quarter and full year of 2018 would be postponed.

Then, on April 2, 2019, Fusion Connect, Inc disclosed certain accounting errors related to a 2018 acquisition and stated that previously issued financial statements should no longer be relied upon. Fusion also relayed that additional accounting errors would further delay the filing of its 2018 Form 10-K.
Shares of Fusion Connect, Inc. (NASDAQ: FSNN) declined from $6.22 per share in January 2018. to as low as $0.18 per share on April 3, 2019.