NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of BT Group plc (NYSE: BT) resulting from allegations that BT may have issued materially misleading business information to the investing public.
On October 27, 2016, BT disclosed that it had identified certain historical accounting errors at its Italian division and announced the write down of items on the balance sheet by £145m. On this news, shares of BT fell $0.57 per share to close at $23.25 per share on October 27, 2016. On January 24, 2017, BT revealed that it had underestimated the extent of the accounting scandal at its Italian division and was taking a write-down of £530m—more than three times its previous estimate of £145m—for improper accounting practices and transactions in Italy over a number of years. On this news, shares of BT fell sharply during intraday trading on January 24, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by BT investors. If you purchased shares of BT on or before January 20, 2017 please visit the firm’s website at http://www.rosenlegal.com/cases-1035.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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