LOS ANGELES, Sept. 29, 2017 /PRNewswire/ -- Lundin Law PC, a shareholder rights firm, announces the filing of a
class action lawsuit against Frontier Communications Corporation ("Frontier" or the "Company") (Nasdaq: FTR) concerning possible
violations of federal securities laws between April 1, 2016 and May 2,
2017, inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should
contact the firm prior to the November 27, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here .
You can also call Brian Lundin, Esq., of Lundin Law PC, at
888-713-1033, or you can e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an
attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Frontier made materially false and/or misleading statements, and/or
failed to disclose: that the Company acquired a substantial number of non-paying accounts as part of its acquisition of the
wireline operations of Verizon Communications, Inc.; that the Company would be required to increase its reserves, and write off
amounts from accounts receivable associated with the non-paying accounts; and that as a result of the above, the Company's
statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all
relevant times.
On May 2, 2017, Frontier reported a first quarter 2017 net loss of $75
million and a year-over-year first quarter revenue decline of $53 million. On the same day,
the Company held a conference call to discuss its first quarter financial results. During the call, Chief Financial Officer
Ralph McBride stated that approximately $16 million of the
sequential revenue decline was a result of cleanup of California, Texas, and Florida non-paying accounts and the automation of legacy non-pay
disconnects. Upon release of this information, shares of Frontier dropped in value materially, which caused investors harm
according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities
litigator based in Los Angeles dedicated to upholding shareholders' rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical
rules.
Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
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SOURCE Lundin Law PC