GTT Communications Inc (GTT)

[jgrabar]

https://www.law360.com/articles/1337837/gtt-investors-seek-25m-deal-over-disaster-interoute-buy

https://www.law360.com/articles/1367151/saxena-white-seeks-9m-for-25m-gtt-securities-settlement

https://grabarlaw.com/the-latest/gtt-communications-inc-investigations/

Per above, it is alleged that officers and directors of GTT Communications, Inc. failed to disclose that: (1) there were delays in migrating Interoute's legacy systems and processes into GTT's client management database system; (2) Interoute had made a strategic shift to focus on providing cloud services that deviated from GTT's core cloud networking business; (3) Interoute's sales force was underperforming and ineffective at selling GTT's core cloud networking services. These governance failures led to the announcement of a $25 million class action settlement.

Current GTT shareholders who have held shares of the Company’s stock since at least February 26, 2018 have standing to seek corporate governance reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate.