NEW YORK, Aug. 15, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of GTT Communications, Inc. (“GTT” or the “Company”) (NYSE: GTT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether GTT and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 10, 2020, GTT filed a Notification of Late Filing with the U.S. Securities and Exchange Commission (“SEC”), stating that the Company “is unable to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 (the ‘Form 10-Q’) within the prescribed time period without unreasonable effort or expense.” GTT’s SEC filing disclosed that “[i]n the course of closing the Company’s books for the quarter ended June 30, 2020, the Company identified certain issues related to the recording and reporting of Cost of Telecommunications Services and related internal controls.”
On this news, GTT’s stock price fell $0.65 per share, or 11.59%, to close at $4.96 per share on August 11, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.