Energy News / Shareholders Foundation, Inc.

NYSE:MBT Long-Term Investor Alert: Investigation of Potential Wrongdoing at Mobile TeleSystems

Via: ReleaseWire

Updated 11:15 AM CDT, Fri, August 30,2019

An investigation on behalf of current long term investors in Mobile TeleSystems (NYSE: MBT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.

San Diego, CA -- (SBWIRE) -- 08/30/2019 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Mobile TeleSystems.

Investors who are current long term investors in Mobile TeleSystems (NYSE: MBT) shares, have certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

The investigation by a law firm for investors in NYSE: MBT stocks follows a lawsuit filed against Mobile TeleSystems over alleged securities laws violations. The investigation on behalf of current long term investors inn NYSE: MBT stocks, concerns whether certain Mobile TeleSystems directors are liable in connection with the allegations made in that lawsuit.

The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Mobile TeleSystems and its subsidiary were involved in a scheme to pay $420 million in bribes in Uzbekistan, that consequently, Mobile TeleSystems knew or should have known it would be forced to pay substantial fines to the U.S. government after disclosing in 2014 that the U.S. Department of Justice and Securities and Exchange Commission were investigating its Uzbekistan operations, that Mobile TeleSystems' level of cooperation with the U.S. government and remediation was lacking, that due to the aforementioned misconduct, Mobile TeleSystems would be forced to pay approximately $850 million in criminal penalties to the U.S. government, and that as a result, defendants' public statements were materially false and/or misleading at all relevant times.

Those who purchased shares of Mobile TeleSystems (NYSE: MBT) have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

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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Media Relations Contact
Michael Daniels
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