Lead Plaintiff Deadline is March 27, 2017

NEW YORK, Jan. 31, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that a class action lawsuit has been filed in United States District Court for the Southern District of New York on behalf of all persons or entities that purchased BT Group plc ("BT Group" or the "Company") (NYSE:BT) American Depositary Receipts (“ADRs”) between May 23, 2013, and January 23, 2017, inclusive ("Class Period").

Investors who have incurred losses in BT Group plc ADRs are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may request the filed complaint and obtain additional information concerning the action on our website, www.whafh.com.

If   you  purchased  ADRs of BT Group plc  within the class period and would like to become involved in assisting the litigation process, you may, no later than March 27, 2017, request that the Court appoint you lead plaintiff of the proposed class.

The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that (i) BT Group's Italian division had engaged in improper accounting practices; (ii) as a result, BT Group significantly overstated its earnings; (iii) the foregoing facts, when they became known, would foreseeably cause BT Group to cut its revenue, earnings, and free cash flow forecasts; and (iv) as a result, BT Group's public statements were materially false and misleading.

Specifically, on October 27, 2016, the Company announced that it uncovered "inappropriate management behavior" at its Italian division. BT Group revealed to investors that it "conducted an initial internal investigation" which included reviewing accounting practices during which the Company "identified certain historical accounting errors and reassessed certain areas of management judgment." As a result, the Company announced that it had "written down the value of items on the balance sheet by £145 [million]."

On this news, BT Group's ADRs  fell from $23.82 on October 26, 2016 to a closing price of $23.25 on October 27, 2016 —a $0.57 or a 2.39% drop.

On January 24, 2017, BT Group issued a news release entitled “Update on investigation into BT’s Italian business and on BT Group outlook.”  On this news,  BT Group’s ADR price fell $5.05, or 20.67%, to close at $19.38 on January 24, 2017.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact  Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP 
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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