Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
LOS ANGELES, March 29, 2017 -- Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Global Eagle Entertainment Inc. (“Global Eagle” or the “Company”) (Nasdaq:ENT) concerning possible violations of federal securities laws between July 27, 2016 and February 20, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the April 24, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at [email protected].
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, the Global Eagle made false and/or misleading statements and/or failed to disclose that: the Company was unable to timely and properly account for its acquisition of Emergency Markets Communications; 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 information reached the public, the stock price of Global Eagle declined, thus harming investors.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact: Lundin Law PC Brian Lundin, Esq. Telephone: 888-713-1033 Facsimile: 888-713-1125 [email protected] http://lundinlawpc.com/
