The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Telenav, Inc. Investors (TNAV)
February 11 2020 - 7:13PM
Business Wire
The Law Offices of Frank R. Cruz announces an investigation on
behalf of Telenav, Inc., (“Telenav” or the “Company”) (NASDAQ:
TNAV) investors concerning the Company and its officers’ possible
violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to
participate.
On February 11, 2020, Telenav disclosed that it was unable to
timely file its quarterly report for the period ended December 31,
2019. In a Form 12b-25 filed with the SEC, the Company stated that
it had “updated its reporting of revenue related to its agreements
with Grab Holdings, Inc.,” resulting revenue corrections for the
quarter ended September 30, 2019 and other adjustments. Telenav
also disclosed that there was ”a material weakness in its internal
control over financial reporting as of September 30, 2019 and
December 31, 2019.”
On this news, the Company’s shares fell sharply during
after-hours trading on February 11, 2020, thereby injuring
investors.
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If you purchased Telenav securities, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Frank R. Cruz, of The Law
Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los
Angeles, California 90067 at 310-914-5007, by email to
info@frankcruzlaw.com, or visit our website at
www.frankcruzlaw.com. If you inquire by email please include your
mailing address, telephone number, and number of shares
purchased.
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/20200211006132/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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