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Global Eagle Entertainment Inc.

Case Summary

Global Eagle Entertainment Inc. Securities Litigation

Case Summary

Case Status:    SETTLED
On or around 10/05/2018 (Date of stipulation and/or agreement of settlement)

Filing Date: February 23, 2017

According to the law firm press release, Global Eagle provides content, connectivity, and digital media solutions for travel industry worldwide. The Company operates through two segments, Connectivity and Content.

On July 27, 2016, Global Eagle announced that it had completed its previously announced acquisition of Emergency Markets Communications (“EMC”), a communications services provider to maritime and hard-to-reach land markets.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Global Eagle was unable to timely and properly account for the EMC acquisition; (ii) consequently, the Company lacked effective internal controls over financial reporting; and (iii) as a result, Global Eagle’s financial statements were materially false and misleading at all relevant times.

An amended complaint was filed on September 11, 2017.

On October 30, 2017, the Court issued an Order granting Defendants' Motion to Dismiss with prejudice. Plaintiffs filed a notice appealing the Court's Order of Dismissal on January 29, 2018. On October 4, the parties entered into a Stipulation of Settlement.

Company & Securities Information

Defendant: Global Eagle Entertainment Inc.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ENT
Company Market: NASDAQ
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.

First Identified Complaint

M and M Hart Living Trust, et al. v. Global Eagle Entertainment Inc., et al.

COURT: C.D. California
DOCKET #: 17-CV-01479
JUDGE: Hon. Percy Anderson
DATE FILED: 02/23/2017
CLASS PERIOD START: 07/27/2016
CLASS PERIOD END: 02/17/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 02/23/2017

Reference Complaint

M and M Hart Living Trust, et al. v. Global Eagle Entertainment Inc., et al.

COURT: C.D. California
DOCKET #: 17-CV-01479
JUDGE: Hon. Percy Anderson
DATE FILED: 09/11/2017
CLASS PERIOD START: 07/27/2016
CLASS PERIOD END: 03/16/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
  2. Levi & Korsinsky (Los Angeles)
    445 South Figueroa Street, 31st Floor, Levi & Korsinsky (Los Angeles), CA 90071
    (213) 985-7290 (202) 333-2121 ·
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Complaint for Violation of the Federal Securities Laws 06/05/2017
2 In Chambers - Order 06/26/2017
3 Notice of Dismissal Pursuant to Federal Rules of Civil Procedure 41(a) or (c) 07/14/2017
4 In Chambers - Court Order 08/20/2017
5 Second Amended Complaint for Violation of the Federal Securities Laws 09/11/2017
6 In Chambers - Court Order 10/30/2017
7 Notice of Appeal and Ninth Circuit Rule 302 Representation Statement 01/29/2018
8 Order 09/10/2018
9 U.S. District Court Civil Docket 10/05/2018
10 Stipulation of Settlement 10/05/2018
11 Summary Notice Of Proposed Settlement of Class Action 10/05/2018
 
 

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