NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Teligent, Inc. (“Teligent” or the “Company”)(NASDAQ:TLGT)
of the June 14, 2019 deadline to seek the role of lead plaintiff in a
federal securities class action that has been filed against the Company.
If you invested in Teligent stock or options between May 2, 2017 and
November 7, 2017 and would like to discuss your legal rights, click
here: www.faruqilaw.com/TLGT.
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292
or at 212-983-9330 or by sending an e-mail to [email protected].
The lawsuit has been filed in the U.S. District Court for the Southern
District of New York on behalf of all those who purchased Teligent
common stock between May 2, 2017 and November 7, 2017 (the “Class
Period”). The case, Mo-Kan Iron Workers Pension Fund v.
Teligent, Inc. et al., No. 19-cv-03354 was filed on April 15, 2019.
The lawsuit focuses on whether the Company and its executives violated
federal securities laws by failing to disclose product non-conformities
in research and development and non-compliance with applicable
regulations.
On November 6, 2017, the truth came to light when Teligent filed a Form
8-K with the SEC (the “November 2017 8-K”) disclosing disappointing Q3
2017 earnings. Total revenue fell to $13.7 million from the previous
quarter’s $18.4 million, a 25.5% drop, and from Q3 2016’s $16.2 million,
a 15.4% drop.
On this news, Teligent’s share price fell from $5.25 per share on
November 6, 2017 to a closing price of $2.96 on November 7, 2017: a
$2.29 or a 43.62% drop.
The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Teligent’s conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential
manner.
Contacts
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New
York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Telephone:
(877) 247-4292 or (212) 983-9330
