SAN DIEGO--(BUSINESS WIRE)--Haeggquist & Eck, LLP (“HAE”) announces an investigation of potential corporate misconduct at Frontier Communications Corporation (NASDAQ: FTR) (“Frontier” or the “Company”). Specifically, HAE is examining potential misrepresentations by Frontier insiders concerning wireline operations Frontier acquired from Verizon (NYSE: VZ) in April 2016. Frontier has since belatedly admitted that many of the acquired wireline operations included non-paying accounts. Indeed, by February 2017, Frontier suffered an $80 million net loss for the fourth quarter of 2016, largely due to these underperforming assets. This huge decline was followed by a $75 million first quarter 2017 net loss, among other negative financial impacts. Frontier’s stock trading price fell substantially with the announcement of these losses.
Several securities class action lawsuits were filed against Frontier in the United States District Court for the District of Connecticut (“the Class Action”). The Class Action currently seeks damages on behalf of shareholders who purchased and/or acquired Frontier’s securities between April 1, 2016 and May 2, 2017. The deadline to move to be appointed lead plaintiff in the Class Action (“Lead Plaintiff Deadline”) is November 27, 2017.
Frontier Shareholders Have Legal Options
Frontier shareholders may contact Amber Eck or Kathleen Herkenhoff by phone at 619-342-8000, or by e-mail to firstname.lastname@example.org or email@example.com, to seek further information concerning the Class Action, Lead Plaintiff Deadline, or other types of representative actions available to seek relief for the above described misconduct. If you choose to e-mail the firm, please include a telephone number where we may contact you to expedite answering your inquiries.
Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights and consumer protection law. Members of the firm have helped shareholders recover more than $1 billion of value for themselves and/or for the companies in which they have invested.
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