FRONTIER COMMUNICATIONS EXPANDED CLASS SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsu
NEW ORLEANS, Nov. 21, 2017 (GLOBE NEWSWIRE) ClaimsFiler, a FREE shareholder information service, reminds investors that they have until November 27, 2017 to file lead plaintiff applications in a securities class action lawsuit against Frontier Communications Corporation (Nasdaq:FTR), if they purchased the Companys securities between the expanded period of February 6, 2015 and May 2, 2017, inclusive (the Class Period). This action is pending in the United States District Court for the District of Connecticut.
Frontier investors should visit us at https://www.claimsfiler.com/cases/view-frontier-communications-corporation-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658. <
About the Lawsuit
Frontier and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 27, 2017, Frontier revealed a Q4 2016 net loss of $80M from the resolution of nonpaying acquired CTF accounts, an account cleanup process since July 20, 2016 related to its April 2016 purchase of Verizon Communications operations in California, Texas and Florida. On May 2, 2017, Frontier reported a $75M Q1 2017 net loss and a Q1 revenue decline of $53M by year, including $16M from CTF non-paying accounts and automation of legacy non-pay disconnects.
On this news, the price of Frontiers shares plummeted.
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