NEW ORLEANS, Oct. 06, 2017 (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 November 27, 2017 to file lead plaintiff applications in a securities class action lawsuit against Frontier Communications Corporation (Nasdaq: FTR ), if they purchased the Company’s securities between April 1, 2016, and May 2, 2017, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Connecticut.
What You May Do
If you purchased securities of Frontier 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 (lewis.kahn@ksfcounsel.com), or visit http://ksfcounsel.com/cases/nasdaqgs-ftr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 27, 2017 .
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 Frontier’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include 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 .
Contact:
Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner lewis.kahn@ksfcounsel.com 1-877-515-1850 206 Covington St. Madisonville, LA 70447
