NEW YORK, Feb. 24, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Global Eagle Entertainment Inc. ("Global Eagle" or the "Company") (NASDAQ: ENT) and certain of its officers, and is on behalf of purchasers of Global Eagle securities between November 9, 2016 through February 20, 2017, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/ent.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Global Eagle's remediation plans to address the material weaknesses in its internal controls over financial reporting were incomplete; and (2) consequently, Defendants' statements about the Company's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 21, 2017, Global Eagle revealed that its CEO Dave Davis, and CFO Tom Severson, had both resigned effective immediately. Global Eagle also said that it would not be able to file its 10-K 2016 annual report on time, and would need to withdraw its guidance for its 2016 financial performance. Following this news, Global Eagle has dropped $1.98 per share or over 31.8% over two trading days to close at $4.24 per share on February 22, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/ent or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Global Eagle you have until April 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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