NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of Connecticut on behalf of all persons or entities who purchased or otherwise acquired Frontier Communications Corporation (NASDAQ:FTR) securities between April 1, 2016 and May 2, 2017 (the “Class Period”). Investors have until November 27, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that Defendants made materially false and/or misleading statements by failing to disclose: (1) that the Company acquired a substantial number of non-paying accounts as part of its acquisition of the wireline operations of Verizon Communications, Inc.; (2) that, as a result, the Company would be required to increase its reserves, and write off amounts from accounts receivable associated with the non-paying accounts; and (3) that, as a result of the foregoing, Defendants statements about Frontiers business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Frontier securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Frontier Communications lawsuit, please go to http://www.bespc.com/frontier. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.