Globe Newswire 14-Jun-2019 3:00 PM
NEW YORK, June 14, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against purchasers Teligent, Inc. ("Teligent" or the "Company") (NASDAQ:TLGT) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Teligent securities between May 2, 2017 and November 7, 2017, both dates inclusive. Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/tlgt.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
Teligent researches, develops, produces, supplies, and sells generic pharmaceutical products.
The complaint alleges that Teligent violated provisions of the Exchange Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission ("SEC"). Specifically, Teligent made false and/or misleading statements regarding, and/or failed to disclose, product non-conformities in research and development and non-compliance with applicable regulations.
On November 6, 2017, after market close, Teligent filed a Form 8-K with the SEC disclosing discouraging third quarter 2017 earnings. Total revenue fell to $13.7 million from the previous quarter's $18.4 million, a 25.5% drop, and from third quarter 2016's $16.2 million, a 15.4% drop. Teligent's press release quoted President and CEO Jason Grenfell-Gardner attributing the drop in revenue to FDA approval delays and competition. On this news, Teligent's share price fell $2.29 on November 7, 2017.
If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/tlgt or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Teligent you have until June 14, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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