A lawsuit was filed on behalf of investors in Jumia Technologies AG (NASDAQ: JMIA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/30/2019 -- An investor, who purchased shares of Jumia Technologies AG (NASDAQ: JMIA), filed a lawsuit over alleged violations of Federal Securities Laws by Jumia Technologies AG in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Jumia Technologies AG (NASDAQ: JMIA) have certain options and for certain investors are short and strict deadlines running. Deadline: July 15, 2019. NASDAQ: JMIA investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On May 9, 2019, a report was published accusing Jumia Technologies AG of overstating its financials in connection with its initial publis offering ("IPO") and suggesting that Jumia Technologies AG failed to adequately disclose material information relating to returned, undelivered and cancelled orders.
The plaintiff claims that between April 12, 2019 and May 9, 2019, the defendants made materially false and misleading statements because they failed to disclose that Jumia Technologies AG had materially overstated its active customers and active merchants, that Jumia's representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated the Company's sales, that Jumia Technologies AG failed to sufficiently disclose related party transactions, and that Jumia's financial statements were presented in violation of applicable accounting standards.
Those who purchased shares of Jumia Technologies AG (NASDAQ: JMIA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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