The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Gogo Inc. (NASDAQ: GOGO) who purchased shares between February 27, 2017 and May 7, 2018. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
In particular, the GOGO lawsuit alleges that (1) Gogo’s 2Ku antenna had more reliability issues than the public was led to believe; (2) Gogo’s 2Ku antennas required costly installation and faced costly remediation challenges or required replacement due to deicing fluids from planes infiltrating the 2Ku system, as well as manufacturing and software issues; (3) consequently, Gogo would not be able to meet its previously issued 2018 guidance; and (4) as a result, the company’s financial statements were materially false and misleading at all relevant times.
Shareholders have until August 27, 2018 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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