Investor Alert: Kaplan Fox Investigates Potential Securities Fraud At GTT Communications, Inc.

·2 min read

NEW YORK, Jan. 21, 2021 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of GTT Communications, Inc. ("GTT" or the "Company") (NYSE: GTT). A complaint has been filed on behalf of investors who purchased GTT's publicly traded securities between May 5, 2016 and November 9, 2020 (the "Class Period").

According to the complaint, throughout the Class Period, GTT stated that its internal controls over financial reporting were "effective" and provided "reasonable assurance" that all required information was being disclosed.

On August 10, 2020, after market hours, GTT announced that it would delay the filing of its quarterly report for the quarter ended June 30, 2020. Further, the Company stated that in the course of closing its books for the quarter, 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, over 11%, to close at $4.96 per share on August 11, 2020.

On December 22, 2020, after the class-period, GTT announced that its audit committee had determined that GTT will need to restate its financial reports for 2017 through early 2020.

If you are a member of the proposed Class, you may move the court no later than March 15, 2021 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP