The Klein Law Firm announces that a class action complaint has been filed on behalf of investors who purchased Fusion Connect, Inc. (OTCMKTS: FSNN) securities between March 22, 2018 and April 2, 2019. The complaint was filed in the United States District Court for the Southern District of New York.
According to the complaint, Fusion made materially false and misleading statements, later admitting that the process used by certain of its Birch subsidiaries for capitalizing costs associated with the customer on-boarding process and the related judgments and estimates were not designed with sufficient precision, leading to an overstatement of the Company's earnings (or net loss) of between $1.7 million and $2.3 million in the quarter ending on June 30, 2018, and between $3.4 million and $4.1 million in the quarter ending September 30, 2018.
Investors have until June 17, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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