Globe Newswire 10-Aug-2018 10:50 PM
NEW ORLEANS, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 27, 2018 to file lead plaintiff applications in a securities class action lawsuit against Gogo Inc. (NASDAQ:GOGO), if they purchased the Company's securities between February 27, 2017 and May 7, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of Illinois.
What You May Do
If you purchased securities of Gogo and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-gogo/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 27, 2018.
About the Lawsuit
Gogo and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 4, 2018, the Company disclosed disappointing quarterly earnings results including that it would be unable to meet EBITDA profit guidance of $75M-$100M, was withdrawing "its previously provided 2018 guidance for Adjusted EBITDA, airborne Cash CAPEX, and airborne equipment inventory purchases related to airline-directed installations, as well as Free Cash Flow guidance." Then, on May 7, 2018, post-market, Moody's announced a downgrade of the Company's credit rating.
On this news, the price of Gogo's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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