EXPANDED CLASS PERIOD ALERT: Kaskela Law LLC Announces Expanded Class Period in Shareholder Class Action Lawsuits Against Par...
October 25 2019 - 12:16PM
Business Wire
Kaskela Law LLC announces that shareholder class action lawsuits
have 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, 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 lawsuits allege that Pareteum and
certain of the Company’s executive officers issued a series of
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. Additionally, the Company disclosed
that it “currently estimates the revenue impact for the full year
2018 to be a reduction of approximately $9 million,” and “the
revenue impact to be a reduction of approximately $24 million” for
2019. Following this news, shares of the Company’s stock
declined nearly 60% in value.
IMPORTANT DEADLINE: Investors who purchased Pareteum’s
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. 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/20191025005407/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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