The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Global Eagle Entertainment Inc. (NASDAQ: ENT) who purchased shares between July 27, 2016 and February 20, 2017. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s progress towards integration of Emerging Markets Communications (“EMC”) into Global Eagle was not progressing as favorably as Defendants lead investors to believe; (ii) Global Eagle was unable to timely and properly account for the acquisition of EMS; (iii) consequently, Global Eagle lacked effective internal control over financial reporting; and (iv) as a result, Global Eagle’s financial statements were materially false and misleading at all relevant times.
Shareholders have until April 24, 2017 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.