SAN FRANCISCO, Jan. 25, 2017 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in BT Group plc (NYSE: BT) that Hagens Berman is investigating BT's announcement that it significantly overstated earnings in its Italian business for numerous years.
If you purchased or otherwise acquired securities of BT before January 24, 2017 and suffered over $100,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing BT@hbsslaw.com.
On January 24, 2017, BT filed its Form 6-K with the U.S. Securities and Exchange Commission. The Company disclosed that an internal accounting investigation identified a significant "overstatement of earnings in our Italian business over a number of years."
The Company stated that the required adjustments would total approximately £530 million. This news drove the price of BT shares down over 20% on January 24, 2017.
"We're focused on the material failures of BT's financial controls and when management knew or should have known they were broken," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding BT should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email BT@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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SOURCE Hagens Berman Sobol Shapiro LLP