BENSALEM, Pa.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24JMIA&src=ctag” target=”_blank”gt;$JMIAlt;/agt; lt;a href=”https://twitter.com/hashtag/classaction?src=hash” target=”_blank”gt;#classactionlt;/agt;–Law Offices of Howard G. Smith announces an investigation on behalf of
Jumia Technologies AG (“Jumia” or the “Company”) (NYSE: JMIA)
investors concerning the Company and its officers’ possible violations
of federal securities laws.
On May 9, 2019, Citron Research reported that Jumia is the “most obvious
fraud” the firm has ever seen in 18 years of publishing research. Citron
further emphasized the company’s “material discrepancies” between the
confidential investor presentation from October 2018 and what the
company told the Securities and Exchange Commission, including:
inflating active customer and active merchant numbers by 20% to 30%; and
that 41% of orders were returned, not delivered or canceled.
On this news, shares of Jumia fell over 20% during intraday trading,
thereby injuring investors.
If you purchased Jumia securities, 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
