{"id":63405,"date":"2018-12-18T20:09:37","date_gmt":"2018-12-18T12:09:37","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/former-attorney-general-of-louisiana-initiates-gogo-investigation-2\/"},"modified":"2018-12-18T20:09:37","modified_gmt":"2018-12-18T12:09:37","slug":"former-attorney-general-of-louisiana-initiates-gogo-investigation-2","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/former-attorney-general-of-louisiana-initiates-gogo-investigation-2\/","title":{"rendered":"Former Attorney General of Louisiana Initiates Gogo Investigation"},"content":{"rendered":"<\/p>\n<p>Former Attorney General of Louisiana Charles C. Foti, a partner at the law firm of <strong>Kahn Swick and Foti&nbsp;<\/strong>(KSF), revealed that KSF has commenced an investigation into <strong>Gogo<\/strong>.<\/p>\n<p>On May 4, the company disclosed that because of increased costs and lost revenue resulting from widespread problems with its 2Ku global satellite system antennas, including manufacturing and software issues, it would be unable to meet Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) profit guidance of $75 million to $100 million and was withdrawing its \u201c2018 guidance for Adjusted EBITDA, airborne Cash Capital Expenditure (CAPEX), and airborne equipment inventory purchases related to airline-directed installations, as well as Free Cash Flow guidance.\u201d Then, on May 7, Moody\u2019s announced a downgrade to the company\u2019s credit rating due to \u201cthe company\u2019s weakening credit metrics, operational difficulties, and deteriorating liquidity.\u201d<\/p>\n<p>Thereafter, the company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the class period, violating federal securities laws, which is ongoing. KSF\u2019s investigation is focusing on whether Gogo\u2019s officers and\/or directors breached their fiduciary duties to Gogo\u2019s shareholders or otherwise violated state or federal laws.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Attorney General of Louisiana Charles C. Foti, a partner at the law firm of Kahn Swick and Foti&nbsp;(KSF), revealed that KSF has commenced an investigation into Gogo. On May 4, the company disclosed that because of increased costs and lost revenue resulting from widespread problems with its 2Ku global satellite system antennas, including manufacturing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":59099,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-63405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/63405"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=63405"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/63405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/59099"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=63405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=63405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=63405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}