GlobeNewswire Inc | Sep 27, 2020 12:16AM EDT

September 27, 2020

NEW YORK, Sept. 27, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Gol Linhas Aereas Inteligentes S.A. (Gol Linhas or the Company) (NYSE:GOL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Gol Linhas and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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In mid-June 2020, Gols auditor, KPMG, raised significant concerns about Gol during the accounting firms first annual audit of the Company after being hired in 2019, stating that it had an adverse opinion on the strength of Gol's internal controls regarding the preparation of financial statements, adding that there was substantial doubt about the airline's ability to exist a year from now. KPMGs adverse opinion prompted Gol to carry out a review of its financial reporting procedures. Then, on July 23, 2020, Gol announced the termination of KPMG as its external auditor.

On this news, Gols American depositary receipt (ADR) price fell $0.65, or 7.05%, to close at $7.25 per ADR on July 23, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980