Frontier Communications Corp
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
|Company Name:||Frontier Communications Corp|
|Stock Symbol :||NASDAQ:FTR|
|Class Period Start:||01/27/2017|
|Class Period End:||08/17/2017|
|Lead Plaintiff motion:||11/27/2017|
|Type of Case:||Securities Class Action|
|Court:||U.S. District Court for the District of Connecticut|
Thieler Law Corp advises investors with losses exceeding $100,000 of the November 27, 2017 lead plaintiff deadline in a class action lawsuit filed against Frontier Communications Corp (NASDAQ:FTR) (“Frontier” or “the Company”). The suit is pending in the U.S. District Court for the District of Connecticut and investors, who purchased Frontier Communications Corp securities between April 1, 2016, and May 2, 2017, have until November 27, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.
If you purchased Frontier Communications Corp securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing firstname.lastname@example.org . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that the Company received a substantial number of non-paying accounts as part of its acquisition of the wireline operations of Verizon Communications, Inc.; that the Company would be required to increase its reserves, and write off amounts from accounts receivable associated with the non-paying accounts; and that as a result of the above, the Company's statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
On May 2, 2017, Frontier reported a first quarter 2017 net loss of $75 million and a year-over-year first quarter revenue decline of $53 million. Additionally, the Company held a conference call to discuss its first quarter financial results. During the call, Ralph McBride (CFO) disclosed that roughly $16 million of the sequential revenue decline was a result of cleanup of California, Texas, and Florida non-paying accounts and the automation of legacy non-pay disconnects.
Following this news, NASDAQ:FTR dropped, causing investors harm.
If you were negatively impacted by your investment in Frontier Communications Corp securities between April 1, 2016, and May 2, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm.
Thieler Law Corp
2534 State Street - Suite 406,
San Diego, CA 92101
telephone at +1 (619) 377 - 4324
visit our website http://www.thielerlaw.com/
Facsimile: +1 (619) 785 – 3185