EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Jumia Technologies AG; Encourages Investors with Losses Over $100K to Contact the Firm – JMIA
NEW YORK--(BUSINESS WIRE)--May 13, 2019--
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Jumia Technologies AG (NYSE: JMIA) resulting from allegations that Jumia may have issued materially misleading business information to the investing public.
On May 9, 2019, Citron Research reported that Jumia is the “most obvious fraud” the firm has ever seen in 18 years of publishing research. Citron further emphasized the company’s “material discrepancies” between the confidential investor presentation from October 2018 and what the company told the Securities and Exchange Commission, including: inflating active customer and active merchant numbers by 20% to 30%; and that 41% of orders were returned, not delivered or canceled.
On this news, shares of Jumia fell $6.22, or over 18%, to close at $26.89 on May 9, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Jumia investors. If you purchased shares of Jumia please visit the firm’s website at http://www.rosenlegal.com/cases-register-1569.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190513005631/en/
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34thFloor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: The Rosen Law Firm, P.A.
Copyright Business Wire 2019.
PUB: 05/13/2019 12:03 PM/DISC: 05/13/2019 12:03 PM