July 22, 2020 - A third amended consolidated complaint was filed.

December 20, 2019 - A second amended consolidated complaint was filed.

October 16, 2019 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

February 8, 2019 - A motion to dismiss the amended complaint was filed.

December 10, 2018 - An amended complaint was filed.

June 27, 2018 - An investor in shares of Gogo Inc (NASDAQ: GOGO) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Gogo Inc in connection with certain allegedly false and misleading statements made between February 27, 2017 and May 7, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Gogo Inc (NASDAQ: GOGO) common shares between February 27, 2017 and May 7, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 27, 2017 and May 7, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Gogo Inc’s 2Ku antenna had more reliability issues than the public was led to believe, that Gogo Inc’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, that consequently, Gogo Inc would not be able to meet its previously issued 2018 guidance, and that as a result, the company’s financial statements were materially false and misleading at all relevant times.

Chicago, IL based Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. Gogo Inc reported that its annual Total Revenue rose from $596.55 million in 2016 to $699.09 million in 2017 and that its Net Loss increased from $124.5 million in 2016 to $171.95 million in 2017.

On May 4, 2018, Gogo Inc announced its first quarter 2018 financial results, disclosing it was “withdrawing its previously provided 2018 guidance for Adjusted EBITDA, airborne Cash CAPEX, and airborne equipment inventory purchases related to airline-directed installations, as well as Free Cash Flow guidance.”

Shares of Gogo Inc (NASDAQ: GOGO) declined from $14.50 per share in September 2017 to as low as $4.55 per share in late May 2018.