Energy News / Shareholders Foundation, Inc.

NYSE:MBT Shareholder Notice: Lawsuit Alleges Misleading Statements by Mobile TeleSystems

Via: ReleaseWire

Updated 11:00 AM CDT, Thu, April 11,2019

A lawsuit was filed on behalf of investors in Mobile TeleSystems (NYSE: MBT) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 04/11/2019 -- An investor, who purchased shares of Mobile TeleSystems (NYSE: MBT), filed a lawsuit tagainst Mobile TeleSystems alleged violations of Federal Securities Laws.

Investors who purchased shares of Mobile TeleSystems (NYSE: MBT) have certain options and for certain investors are short and strict deadlines running. Deadline: May 20, 2019. NYSE: MBT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Mobile TeleSystems (NYSE: MBT) common shares between March 19, 2014 and March 7, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 19, 2014 and March 7, 2019, 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.

Contact:
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
mail@shareholdersfoundation.com

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.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nysembt-shareholder-notice-lawsuit-alleges-misleading-statements-by-mobile-telesystems-1193662.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com