A lawsuit was filed on behalf of investors in Global Eagle Entertainment Inc (NASDAQ:ENT) shares over alleged securities laws violations and NASDAQ:ENT investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/27/2017 -- The Shareholders Foundation announces that an investor, who purchased shares of Global Eagle Entertainment Inc (NASDAQ:ENT), filed a lawsuit in California over alleged Securities Laws violations by Global Eagle Entertainment Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Global Eagle Entertainment Inc (NASDAQ:ENT) have certain options and for certain investors are short and strict deadlines running. Deadline: April 24, 2017. NASDAQ:ENT investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that between November 9, 2016 and February 20, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Global Eagle Entertainment's remediation plans to address the material weaknesses in its internal controls over financial reporting were deficient, and that as a result, Defendants' statements about the Company's business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
On February 21, 2017, Global Eagle Entertainment Inc announced that Dave Davis, the Company's CEO, and Tom Severson, the Company's CFO, had both resigned effective immediately. Global Eagle Entertainment Inc further disclosed that it would be unable to timely file its 2016 annual report, and that it would need to withdraw its guidance for 2016 financial performance. Shares of Global Eagle Entertainment Inc (NASDAQ:ENT) declined to as low as $4.00 per share on February 22, 2107.
On February 24, 2016, NASDAQ:ENT shares closed at $4.32 per share.
Those who purchased shares of Global Eagle Entertainment Inc have certain options and should contact the Shareholders Foundation.
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