Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Frontier Communications Corporation (NASDAQ:FTR) in connection to alleged violations of securities laws by FTR. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Frontier Communications Corporation between April 1, 2016, and May 2, 2017.
The class action complaint specifically alleges that during the period in question, FTR might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that during its acquisition of Verizon Communications’ wireline operations, the company had acquired a large quantity of non-paying accounts; that as a result of this, Frontier would have to raise its reserves, and would additionally have to write off sums from accounts receivable that were connected to the non-paying accounts; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts came to light, investors suffered losses.
According to the company’s website, Frontier Communications Corporation is “a leader in providing communications services to urban, suburban, and rural communities in 29 states.” The company’s description continues: “Frontier offers a variety of services to residential customers over its fiber-optic and copper networks, including video, high-speed internet, advanced voice, and Frontier Secure® digital protection solutions. Frontier’s video offerings include Frontier FiOS® and Vantage TV by Frontier™ with 100 percent HD picture quality, Total Home DVR, instant channel change, enhanced search, Video on Demand, and much more. Business Edge™ offers communications solutions to small, medium, and enterprise businesses.”
A class action lawsuit has already been filed in connection with Frontier Communications Corporation. If you wish to serve as lead plaintiff in the FTR lawsuit, you must move the Court no later than November 27, 2017. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.