BENSALEM, Pa.–(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;–Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors who purchased Teligent,
Inc. (“Teligent” or the “Company”) (NASDAQ: TLGT)
securities between May 2, 2017 and November 7, 2017, inclusive
(the “Class Period”). Teligent investors have until June 14,
2019 to file a lead plaintiff motion.
Investors suffering losses on their Teligent investments are encouraged
to contact the Law Offices of Howard G. Smith to discuss their legal
rights in this class action at 888-638-4847 or by email to [email protected].
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.
If you purchased shares of Teligent, 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 Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected],
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
