NEW YORK, June 03, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Jumia Technologies AG (NYSE: JMIA) from April 12, 2019 through May 9, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Jumia investors under the federal securities laws.
To join the Jumia class action, go http://pawarlawgroup.com/cases/jumia-technologies-ag/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 15, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/jumia-technologies-ag/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar, Esq. of Pawar Law Group toll free at 888-589-9804 or via e-mail at info@pawarlawgroup.com.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
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Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com