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 Gogo Inc. (NASDAQ: GOGO) resulting from allegations that Gogo may have issued materially misleading business information to the investing public.
On May 4, 2018, before the market opened, Gogo announced its first quarter 2018 financial results, disclosing it was “withdrawing its previously provided 2018 guidance for Adjusted EBITDA, airborne Cash CAPEX, and airborne equipment inventory purchases related to airline-directed installations, as well as Free Cash Flow guidance.” On this news, shares of Gogo fell $1.73 or 18% over the next two trading days to close at $7.86 per share on May 7, 2018.
Then, on May 7, 2018, after the market closed, Moody’s downgraded Gogo’s credit ratings. On this news, shares of Gogo fell $2.80 or over 35% to close at $5.06 per share on May 8, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Gogo investors. If you purchased shares of Gogo please visit the firm’s website at http://www.rosenlegal.com/cases-1368.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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