BOSTON, April 22, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a Boston based securities litigation firm representing investors nationwide, has filed a securities fraud class action against Fusion Connect, Inc. (“Fusion” or the “Company”) (NASDAQ: FSNN) and certain of its officers alleging violations of the federal securities laws.
The lawsuit charges that Fusion issued false financial results to its investors. Fusion, on April 2, 2019, admitted that its prior issued financial results, for periods ending December 31, 2017, and the quarters ending June 30 and September 30, 2018 should no longer be relied on due to accounting errors. Fusion’s stock price plunged 80% on April 3, 2019. Today, April 22, 2019, Fusion revealed that it may be delisted from NASDAQ.
If you purchased Fusion shares between August 14, 2018 and April 2, 2019 (the Class Period) and wish to serve as a lead plaintiff, you must move the Court no later than June 17, 2019. As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. If you wish to become involved in the litigation or have questions about your legal rights, you are encouraged to contact Block & Leviton LLP at (617) 398-5660, by email at info@blockesq.com, or by visiting http://shareholder.law/fusion.
The complaint in this case was filed in the United States District Court, Southern District of New York (Manhattan), located at 500 Pearl Street, New York, New York, 10007, and is captioned Satarzadeh v. Fusion Connect, Inc., et al., No. 19-cv-3391. The case has been assigned to the Hon. Paul G. Gardephe.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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