08/06/2019 04:30:00

FUSION CONNECT, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that it has  filed  a  securities  class  action  lawsuit with an expanded class period in the United States District Court for the Southern District of New York agai

NEW YORK, June 07, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP   announces that it has filed a federal securities class action with an expanded class period in the United States District Court for the Southern District of New York on behalf of investors that acquired Fusion Connect, Inc. (“Fusion” or the “Company”) (OTC: FSNNQ) securities between May 11, 2018 and April 2, 2019, inclusive (the “Class Period”). This action is captioned Grand Slam Capital Master Fund, Ltd. v. Rosen et al.; No. 1:19-cv-05362.

Investors who purchased shares of

Fusion Connect,  Inc.  are  urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.

If you have incurred losses in the  shares  of  Fusion Connect, Inc.,  you may,no later than June 17, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Fusion Connect, Inc.  

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The  complaint  alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • Fusion Connect’s earnings for the quarters ended June 30, 2018 and September 30, 2018 were overstated due to the insufficient precision in the process by which certain of its Birch Communications Holdings, Inc. subsidiaries capitalized costs; and

     

  • as a result, Fusion Connect’s public statements were materially false and misleading at all relevant times

On March 13, 2019, the Company announced that its earnings call for the fourth quarter and full year of 2018 would be postponed.

Then, on April 2, 2019, the Company disclosed certain accounting errors related to the 2018 acquisition of Birch Communications Holdings, Inc. and stated that previously issued financial statements should no longer be relied upon. Fusion also relayed that additional accounting errors would further delay the filing of its 2018 Form 10-K.

On this news, shares of Fusion fell $0.98 per share, or over 81%, to close at $0.22 on April 3, 2019.

Subsequent to the end of the class period, Fusion filed for bankruptcy protection, filing voluntary petitions under Chapter 11 in the Southern District of New York on June 3, 2019.

Wolf Haldenstein Adler Freeman & Herz LLP

 has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at   www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP

Kevin Cooper, Esq.

Gregory Stone, Director of Case and Financial Analysis

Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com

Tel: (800) 575-0735 or (212) 545-4774

Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

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