DECEMBER 23, 2019 DEADLINE: Kaskela Law LLC Announces Shareholder Class Action Lawsuit Against Pareteum Corp. (TEUM) & Encour...
December 19 2019 - 08:00AM
Business Wire
Kaskela Law LLC announces that a shareholder class action
lawsuit has been filed against Pareteum Corporation (“Pareteum” or
the “Company”) (Nasdaq: TEUM) on behalf of investors who purchased
shares of the Company’s common stock between December 14, 2017
and October 21, 2019, inclusive (the “Class Period”).
Pareteum investors who suffered an investment loss in excess
of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus
Kaskela, Esq.) at (888) 715 – 1740, or by email at
skaskela@kaskelalaw.com, prior to the deadline to discuss this
action and their legal rights and options. Additional information
about this action may also be found at
http://kaskelalaw.com/case/pareteum-corporation/.
The shareholder class action lawsuit alleges that Pareteum
issued a series of materially false and misleading statements to
investors during the Class Period.
On October 21, 2019, Pareteum disclosed that it would “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,” and that investors “should
no longer rely upon the Company’s previously released financial
statements” for those periods. Following this news, shares of
the Company’s stock declined nearly 60% in value.
Subsequently, in November 2019 the Company announced that it
appointed a new interim CFO to “succeed Ted O’Donnell whose status
with the company is under review,” and that “Robert H. Turner has
been terminated as Chairman and CEO of Pareteum.”
IMPORTANT DEADLINE: Investors who purchased Pareteum’s
common stock during the Class Period may, no later than December 23, 2019, seek to be
appointed as a lead plaintiff representative in the action.
Pareteum investors are encouraged to contact Kaskela Law LLC to
discuss this action and their legal rights and options prior to the
deadline.
Kaskela Law LLC exclusively represents investors in securities
fraud, corporate governance, and merger & acquisition
litigation. For additional information about Kaskela Law LLC please
visit www.kaskelalaw.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191219005157/en/
D. Seamus Kaskela, Esq. KASKELA LAW LLC 18 Campus
Boulevard, Suite 100 Newtown Square, PA 19073 (484) 258 – 1585
(888) 715 – 1740 www.kaskelalaw.com skaskela@kaskelalaw.com
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