INVESTOR ALERT: Kaplan Fox Announces Investigation Of Gogo Inc.
NEW YORK, July 6, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of Gogo Inc. ("Gogo" or the "Company") (NASDAQ: GOGO). Investors who purchased or otherwise acquired Gogo securities between February 27, 2017 and May 7, 2018 (the "Class Period") may be affected.
Gogo, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services. Gogo's 2Ku system is an antenna and satellite-based system that purportedly provides additional bandwidth and improved speeds for wi-fi on airplanes.
On May 4, 2018, in connection with reporting first quarter 2018 financial results, including withdrawing prior guidance for certain financial measures, Gogo held a conference call. On the call, Gogo's CEO, Oakleigh Thorne, addressed problems affecting its 2Ku antenna systems. Specifically, CEO Thorne stated as follows:
"The major cause with de-icing fluid getting into the antenna raceways in which the antenna disks spin. We've done a thorough analysis of root causes and discovered that, while de-icing was the biggest issue, there were also some manufacturing issues and software issues at fault. We discovered the de-icing fluid entered the antenna array down through far more pathways than we originally thought."
Following this news, Gogo's shares fell $1.26 per share, or more than 13%, to close at $8.33 per share on May 4, 2018.
If you are a member of the proposed Class, you may move the court no later than August 27, 2018 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article