|[February 17, 2017]
Cohen Milstein Sellers & Toll PLLC Announces Investigation of BT Group plc
Cohen Milstein Sellers & Toll PLLC is conducting an investigation to
determine whether BT Group (News - Alert) plc ("BT Group" or the "Company") and certain
of its officers and directors made false and misleading statements
and/or omissions in violation of Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934.
Class action lawsuits were filed in the U.S. District Court for the
District of New Jersey and in the U.S. District Court for the Southern
District of New York by other law firms on behalf of purchasers of the
American Depository Receipts ("ADRs") of BT Group plc (NYSE: BT) between
May 24, 2012 and January 23, 2017, inclusive (the "Class Period").
The complaint alleges that BT Group and certain of its officers and
directors ("Defendants") misrepresented and/or failed to disclose that:
(1) the Company misstated its earnings due to improper accounting
practices and improper sales, purchase, factoring and leasing
transactions in its Italian operations; (2) the Company lacked effective
internal controls; and (3) as a result, defendants' statements regarding
BT's business, operations and prospects were materially false and
misleading and/or lacked a reasonable basis.
The claims in this case followed the Company's announcement that
improper accounting and widespread misbehavior, including improper sales
and other transactions, had occurred over a period of years at its
Italian subsidiary, BT Italia, resulting in the overstatement of BT
Italia's profits. On January 24, 207, the Company announced that the
problems were much worse than it had initially reported, including
requiring a larger write off; it also reported that it had terminated
certain senior executives of BT Italia and lowered its previously issued
financial guidance. The price of BT Group ADRs fell from $24.43 to
$19.38 on January 24.
Cohen Milstein encourages all investors who purchased BT Group ADRs
between May 24, 2012 and January 23, 2017, or former employees with
information concerning this matter to contact the firm.
If you are a BT Group plc shareholder and would like to discuss your
right to recover for your economic loss, you may, without any cost or
obligation, call Cohen Milstein's Managing Partner, Steven J. Toll at
(888) 240-0775 or (202) 408-4600, or email him at email@example.com.
If you wish to serve as lead plaintiff, you must move the Court no later
than March 27, 2017 to request appointment. Any member of the proposed
class may retain Cohen Milstein or other attorneys to serve as your
counsel in this action, or you may do nothing and remain an absent class
Cohen Milstein has significant experience in prosecuting investor class
actions and actions involving securities fraud, and is active in major
litigation pending in federal and state courts throughout the nation.
Cohen Milstein has taken a lead role in numerous important cases on
behalf of defrauded investors, and has been responsible for a number of
outstanding recoveries which, in the aggregate, total billions of
dollars. Prior results do not guarantee a similar outcome. For more
information visit www.cohenmilstein.com.
If you have any questions about this notice or the action, or with
regard to your rights, please contact either of the following:
Steven J. Toll, Esq.
Cohen Milstein Sellers &
1100 New York Avenue, N.W.
Telephone: (888) 240-0775 or (202) 408-4600
View source version on businesswire.com: http://www.businesswire.com/news/home/20170217005582/en/
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