Case Page

 

Case Status:    ONGOING    
On or around 10/30/2018 (Ongoing date of last review)

Filing Date: January 25, 2017

According to the law firm press release, BT Group is a multinational telecommunications services company that offers fixed-line services, broadband, mobile and TV products and services, and networked IT services in the United Kingdom and across the world. The Company also sells wholesale products and services to communications providers around the world. Globally, BT Group supplies managed networked IT services to multinational corporations, domestic businesses, and national and local government organizations.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s Italian division had for years engaged in improper accounting practices; (ii) as a result, BT Group significantly overstated its earnings throughout the Class Period; (iii) the foregoing facts, when they became known, would foreseeably cause BT Group to cut its revenue, earnings, and free cash flow forecasts; and (iv) as a result of the foregoing, BT Group’s public statements were materially false and misleading at all relevant times.

On January 19, 2018, Plaintiff filed a Notice voluntarily dismissing this action. A related case filed under Docket 17-CV-00497 in the District of New Jersey continues.

On August 28, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on November 21. Defendants filed a Motion to Dismiss the amended Complaint on January 22, 2018. On August 1, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff was given leave to amend the Complaint. On October 1, Lead Plaintiff filed a second amended Complaint.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United Kingdom

SECURITIES INFORMATION:

Ticker Symbol: BT
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. New Jersey
DOCKET #: 17-CV-00558
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 01/25/2017
CLASS PERIOD START: 05/23/2013
CLASS PERIOD END: 01/23/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 17-CV-00497
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 10/01/2018
CLASS PERIOD START: 05/10/2013
CLASS PERIOD END: 01/23/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C.
    5 Becker Farm Road , Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C., NJ 07068
    (973) 994-1700 (973) 994-1744 ·
  2. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  3. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date
—Related District Court Filings Data is not available