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New Federal Securities Cases

Gogo Inc.

A class action lawsuit has been filed in the United States District Court for the Northern District of Illinois against Gogo Inc. (NASDAQ:GOGO) ("Gogo" or the "Company") on behalf of investors who acquired Gogo securities during the period from February 27, 2017 through May 7, 2018 (the "Class Period").

The lawsuit alleges that the Company and its executives violated federal securities laws by failing to disclose that: (1) Gogo's 2Ku antenna had more reliability issues than the public was led to believe; (2) Gogo's 2Ku antennas required costly installation and remediation challenges or required replacement due to deicing fluids from planes infiltrating the 2Ku system as well as manufacturing and software issues; (3) consequently, Gogo would not be able to meet its previously issued 2018 guidance.

Specifically, on May 4, 2018, Gogo held a conference call to discuss its first quarter of 2018 earnings. On the call, Gogo executives addressed the deicing issues in the 2Ku installation and identified that the major causes of deicing fluid getting into the antenna raceways pertained to manufacturing and software issues, which the Company stated it fixed. On the same day, Gogo also issued a press release in which it stated that it was withdrawing its previously provided 2018 guidance for Adjusted EBITDA, airborne Cash CAPEX, airborne equipment inventory purchases related to airline-directed installations, and Free Cash Flow. On this news, the Company's stock fell from $8.33 to $7.86 per share.

Then, on May 7, 2018, after the market closed, Moody's downgraded Gogo's credit rating, reflecting an "expectation that operating metrics" would "remain weak in 2018." On this news, the Company's stock fell from $7.86 to $5.06 per share, further damaging investors.

If you acquired Gogo securities during the Class Period, you may, no later than August 27, 2018, request that the court appoint you lead plaintiff of the Class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former Gogo shareholder and wish to obtain additional information, please fill out the contact form at the link below.


Investigation Contact Form

Gogo Inc. Investor Contact Form



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