Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Central District of California on behalf of shareholders of Global Eagle Entertainment Inc. (NASDAQ: ENT) who purchased shares between July 27, 2016 and February 20, 2017.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Global Eagle’s remediation plans to address the material weaknesses in its internal controls over financial reporting were deficient; and (2) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 21, 2017, Global Eagle Entertainment announced that Dave Davis resigned as a Board Director and as CEO effective February 20, 2017 to “pursue other endeavors.” The Company also announced that Tom Severson, Chief Financial Officer, resigned, effective the very same day as Mr. Davis.
If you suffered a loss in Global Eagle you have until April 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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