Globe Newswire 12-Jul-2019 3:01 PM
NEW YORK, July 12, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against of Jumia Technologies AG ("Jumia" or the "Company") (NYSE:JMIA) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Jumia securities from April 12, 2019 through May 9, 2019, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/jmia.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Jumia had materially overstated its active customers and active merchants; (2) Jumia's representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated Jumia's sales; (3) Jumia failed to sufficiently disclose related party transactions; (4) Jumia's financial statements were presented in violation of applicable accounting standards; and (5) as a result of the foregoing, defendants' positive statements about Jumia's business, operations, and prospects, were materially misleading and lacked a reasonable basis.
If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/jmia 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 Jumia you have until July 15, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. 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