LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24TLGT&src=ctag” target=”_blank”gt;$TLGTlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the upcoming June
14, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of Teligent, Inc. (“Teligent” or the “Company”)
(NASDAQ: TLGT)
investors who purchased securities between May 2, 2017 and
November 7, 2017, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to
participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
On November 6, 2017, the Company reported $13.7 million revenue for
third quarter 2017, which was a 15.4% decline from third quarter 2016
and a 25.5% quarter-over-quarter decline. The Company attributed these
disappointing results to significant R&D, production, and legal issues
affecting the Company.
On this news, the Company’s share price fell $2.29 per share, more than
43%, to close at $2.96 per share on November 7, 2017, thereby injuring
investors.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) the Company’s product
non-conformities in R&D and non-compliance with applicable regulations;
and (2) as a result, the Company’s public statements were materially
false and misleading at all relevant times.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased or otherwise acquired Teligent securities during the
Class Period you may move the Court no later than June 14, 2019 to
request appointment as lead plaintiff in this putative class action
lawsuit. To be a member of the class action you need not take any action
at this time; you may retain counsel of your choice or take no action
and remain an absent member of the class action. If you wish to learn
more about this class action, or if you have any questions concerning
this announcement or your rights or interests with respect to the
pending class action lawsuit, please contact Lesley Portnoy, Esquire, of
GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067
at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.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.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
