Investor Alert: Kaplan Fox Investigates Fusion Connect, Inc.

NEW YORK, April 18, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors who purchased shares of Fusion Connect, Inc. ("Fusion Connect" or the "Company") (NASDAQ: FSNN).  A complaint has been filed in the United States District Court for the Southern District of New York against the Company and certain executives.  Investors who purchased Fusion Connect shares between August 14, 2018 and April 2, 2019, inclusive (the "Class Period"), may be affected. 

According to the complaint, on April 2, 2019, the Company disclosed that it had "identified accounting errors which resulted in an understatement of expenses" and that the accounting errors "are currently anticipated to be material to the impacted periods."  As a result, Fusion Connect said it will be restating certain financial statements, including its financial statements for the quarterly periods ending June 30, 2018 and September 30, 2018, as well as its annual financial statements for the fiscal year ended December 31, 2017.  Additionally, Fusion Connect said that "[a]lthough the company has not determined the precise amount of the required restatements, it currently estimates such amounts to range between $2.3 million and $3 million with respect to the year ended December 31, 2017 and ranging from $3.4 million and $4.1 million and $1.7 million and $2.3 million with respect to the quarters ended September 30, 2018 and June 30, 2018, respectively."

Following this news, Fusion Connect's stock price fell over 81%, about $0.98 per share, to close at $0.22 per share on April 3, 2019.

If you are a member of the proposed Class, you may move the court no later than June 17, 2019 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:

Jeffrey P. Campisi
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]

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SOURCE Kaplan Fox & Kilsheimer LLP