The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Virginia on behalf of investors who purchased GTT Communications, Inc. (NYSE: GTT) securities between February 26, 2018 and July 1, 2019.
According to the GTT lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) following GTT's acquisition of Interoute Communications Holdings S.A., there were delays in migrating Interoute’s legacy systems and processes into GTT’s client management database system; (2) Interoute had made a strategic priority shift to sell cloud services that was a higher percentage of Interoute’s sales in the two years leading up to the acquisition; (3) a material percentage of the Interoute sales representatives were not productive at selling GTT’s core cloud networking services; (4) GTT was unable to yield as many Interoute salespeople because Interoute had hired many sales people focused on cloud services and allowed underperforming sales representatives to remain at Interoute; and (5) as a result of the foregoing, Defendants’ public statements were materially false and/or misleading and/or lacked a reasonable basis.
If you suffered a loss in GTT you have until September 30, 2019 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.
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