AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

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

May 13, 2019

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 pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

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.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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

lrosen@rosenlegal.com

pkim@rosenlegal.com

cases@rosenlegal.com

www.rosenlegal.com

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

http://www.businesswire.com/news/home/20190513005631/en