A lawsuit was filed on behalf of investors in Pareteum Corporation (NASDAQ: TEUM) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/07/2019 -- An investor, who purchased shares of Pareteum Corporation (NASDAQ: TEUM), filed a lawsuit over alleged violations of Federal Securities Laws by Pareteum Corporation.
Investors who purchased shares of Pareteum Corporation (NASDAQ: TEUM) should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On October 21, 2019, Pareteum Corporation (Nasdaq: TEUM) announced that the Company will restate its previously issued consolidated financial statements as of and for the full year ended December 31, 2018, and interim periods ended March 31, 2019 and June 30, 2019. Shares of Pareteum Corporation (NASDAQ: TEUM) declined from $5.29 per share in March 2019 to as low as $0.29 per share on October 22, 2019.
The plaintiff claims that between March 12, 2019 and October 21, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Pareteum improperly and inaccurately recognized revenue for certain customer transactions, that Pareteum's financial statements for the fiscal year ending December 31, 2018 and quarters of ending March 31, 2019 and June 30, 2019 were false and could not be relied on, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Pareteum Corporation (NASDAQ: TEUM) 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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