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IRVINE, Calif., April 03, 2017 -- Khang & Khang LLP (the “Firm”) announces a class action lawsuit against Global Eagle Entertainment Inc. (“Global Eagle” or the “Company”) (Nasdaq:ENT). Investors who purchased or otherwise acquired shares between July 27, 2016 and February 17, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm prior to the April 24, 2017 lead plaintiff motion deadline.
If you purchased shares of Global Eagle during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The Complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: Global Eagle was unable to timely and properly account for its acquisition of Emergency Markets Communications (“EMC”); that the Company lacked effective internal controls over financial reporting; and that as a result of the above, Global Eagle’s financial statements were materially false and misleading at all relevant times. On February 21, 2017, pre-market, Global Eagle announced that its CEO David M. Davis and its CFO Thomas E. Severson Jr. resigned from their positions with the Company. Global Eagle also announced that it expected to file its Annual Report for fiscal year 2016 after the March 16, 2017 U.S. Securities and Exchange Commission deadline, citing the Company’s “increased size and complexity” after its acquisition of EMC, as well as “its need to transition the finance department after the prior CFO’s departure and its need to complete additional financial-closing procedures associated with the Company's material weaknesses in internal control over its financial reporting.” When this news was announced, shares of Global Eagle fell in value.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Contacts Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 [email protected]
