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Oklahoma City, OK (January 14, 2021) – On January 12, 2021, a securities class action lawsuit was filed in the United States District Court for the Central District of California against GTT Communications, Inc. (NYSE: GTT). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is May 5, 2016 through November 9, 2020. More specifically, according to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company’s internal controls suffered from issues related to the recording and reporting of Cost of Telecommunications Services; (2) the Company’s previously reported Cost of Telecommunications was inaccurate or accounted for unsupported adjustments; (3) inadequate internal controls would result in delays in the Company’s 10-Q quarterly reports; and (4) as a result of the foregoing, Defendants’ public statements were materially false and/or misleading and/or lacked a reasonable basis.
Plaintiff seeks to recover damages on behalf of all GTT Communications, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, March 15, 2021 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at firstname.lastname@example.org