NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of GTT Communications, Inc. (NYSE: GTT) resulting from allegations that GTT may have issued materially misleading business information to the investing public.
On August 10, 2020, after market hours, GTT filed a Notification of Late Filing with the U.S. Securities and Exchange Commission ("SEC"), stating that the Company "is unable to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 (the ‘Form 10-Q') within the prescribed time period without unreasonable effort or expense." GTT's SEC filing disclosed that "[i]n the course of closing the Company's books for the quarter ended June 30, 2020, the Company identified certain issues related to the recording and reporting of Cost of Telecommunications Services and related internal controls."
On this news, GTT's shares fell $0.65 per share, or 11%, to close at $4.96 per share on August 11, 2020.
On November 9, 2020, the Company announced its quarterly report for the quarter ended September 30, 2020 would be delayed as well. The Company discussed the ongoing review “examining the accounting for Cost of Telecommunications Services and [. . .] a number of issues in connection with the Company’s previously issued financial statements”.
On this news, GTT shares fell by $0.04 per share, or 1%, from opening at $4.00 on November 9, 2020 to close at $3.96.
Rosen Law Firm is preparing a securities lawsuit on behalf of GTT shareholders. If you purchased securities of GTT please visit the firm’s website at http://www.rosenlegal.com/cases-register-1927.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.
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. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.