INVESTOR ALERT: Kirby McInerney LLP Notifies Investors of Expanded Class Period & Approaching Deadline in Class Action Lawsui...
October 25 2019 - 8:00PM
Business Wire
The law firm of Kirby McInerney LLP reminds investors of the
December 23, 2019 deadline to file a lead plaintiff motion in
connection with the securities fraud class actions filed on behalf
of investors who purchased Pareteum Corporation (“Pareteum” or the
“Company”) (NASDAQ: TEUM) securities during the period from
December 14, 2017 through October 21, 2019 (the “Class
Period”).
The lawsuit alleges that the Company failed to disclose that:
(i) Pareteum improperly and inaccurately recognized revenue for
certain customer transactions; and (ii) Pareteum’s financial
statements for the fiscal year ending December 31, 2018 and
quarters ending March 31, 2019 and June 30, 2019 were false and
could no longer be relied on.
On October 21, 2019, Pareteum disclosed that certain revenues
recognized during 2018 and 2019 should not have been recorded
during that period and that, as a result, the Company would restate
their 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. On this news, shares of
Pareteum fell $0.44, or 59.5%, to close at $0.29.
If you acquired Pareteum securities, have information, or would
like to learn more about these claims, please contact Thomas W.
Elrod of Kirby McInerney LLP at 212-371-6600, by email at
investigations@kmllp.com, or by filling out this contact form, to
discuss your rights or interests with respect to these matters
without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20191025005502/en/
Kirby McInerney LLP Thomas W. Elrod, Esq., (212) 371-6600
investigations@kmllp.com www.kmllp.com
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