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 Global Eagle Entertainment Inc. (NASDAQ: ENT) resulting from allegations that Global Eagle may have issued materially misleading business information to the investing public.
On February 21, 2017, Global Eagle announced that Chief Executive Officer Dave Davis and Chief Financial Officer Tom Severson both resigned effective February 20, 2017. Global Eagle also disclosed that it “expects to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2016 after the March 16, 2017 U.S. Securities and Exchange Commission deadline.” The delay is due in part to Global Eagle’s “need to transition the finance department after the prior CFO’s departure and its need to complete additional financial-closing procedures associated with the Company’s material weaknesses in internal control over its financial reporting.” On this news, shares of Global Eagle fell $1.74 per share or over 27.9% to close at $4.48 per share on February 21, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Global Eagle investors. If you purchased shares of Global Eagle on or before February 20, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1058.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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