LOS ANGELES--(BUSINESS WIRE)--Sep. 26, 2017--
Prongay & Murray LLP (“GPM”) announces the filing of a class
action lawsuit on behalf of investors who purchased Frontier
Communications Corporation (“Frontier” or the “Company”) (NASDAQ: FTR)
securities between April 1, 2016, and May 2, 2017, inclusive (the
“Class Period”). Frontier investors have 60 days from the date of this
notice to file a lead plaintiff motion. To obtain information or
participate in the class action, please visit the Frontier page on our
website at www.glancylaw.com.
Investors suffering losses on their Frontier investments are encouraged
to contact Lesley Portnoy of GPM to discuss their legal rights in this
class action at 310-201-9150 or by email to firstname.lastname@example.org.
Frontier provides communications services in the United States,
including broadband, video, and voice services. In April 2016, Frontier
completed the acquisition of the wireline operations of Verizon
Communications, Inc. in California, Texas and Florida (the “Verizon
Acquisition”), for a purchase price of $10.5 billion in cash and assumed
debt. However, according to the complaint filed in this lawsuit,
defendants failed to disclose the underperformance of the Verizon
Specifically. the complaint filed in this lawsuit alleges that
throughout the Class Period, Defendants made materially false and/or
misleading statements by failing to disclose: (1) that the Company
acquired a substantial number of non-paying accounts as part of its
acquisition of the wireline operations of Verizon Communications, Inc.;
(2) that, as a result, the Company would be required to increase its
reserves, and write off amounts from accounts receivable associated with
the non-paying accounts; and (3) that, as a result of the foregoing,
Defendants’ statements about Frontier’s business, operations, and
prospects, were false and misleading and/or lacked a reasonable basis.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of Frontier during the Class Period you may move
the Court no later than 60 days from the date of this
notice to ask the Court to appoint you as lead plaintiff if you meet
certain legal requirements. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to email@example.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:
Source: Glancy Prongay & Murray LLP
Glancy Prongay and Murray LLP, Los Angeles
310-201-9150 or 888-773-9224