Market Overview

Scott+Scott Attorneys at Law LLP Announces August 27 Lead Plaintiff Deadline in Securities Class Action against Gogo Inc. (GOGO)

Share:

Scott+Scott
Attorneys at Law LLP
("Scott+Scott"), a national shareholder and
consumer rights litigation firm, is informing investors that a class
action lawsuit has been filed against Gogo Inc. ("Gogo" or the
"Company") (NASDAQ:GOGO) and other defendants, related to alleged
violations of federal securities laws. If you purchased Gogo stock or
securities between February 27, 2017 and May 7, 2018, you are encouraged
to contact a Scott+Scott attorney at (844) 818-6982 for additional
information.

Gogo's 2Ku system is an antenna and satellite-based system which
provides additional bandwidth and improved speeds for WiFi on airplanes.

The lawsuit alleges that, during the class period, defendants made false
and/or misleading statements and/or failed to disclose 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
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.

On May 4, 2018, pre-market, Gogo announced disappointing quarterly
earnings results and addressed issues related to deicing. On this news,
the price of Gogo stock fell $1.26 from market close on May 3, 2018 to
market close on May 4, 2018, a drop of 13%.

Then, on May 7, 2018, Moody's downgraded Gogo's credit ratings. On this
news, Gogo stock fell from its close price of $7.86 on May 7, 2018, to a
close price of $5.06 on May 8, 2018, a drop of nearly 36%.

What You Can Do

If you purchased Gogo stock or securities between February 27, 2017 and
May 7, 2018, and you wish to discuss this investigation, please contact
attorney Joe Pettigrew at (844) 818-6982, or at jpettigrew@scott-scott.com.
Investors have until August 27, 2018, to move for lead plaintiff.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.

Attorney Advertising

View Comments and Join the Discussion!