NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is
investigating potential securities claims on behalf of shareholders of
Jumia Technologies AG (NYSE: JMIA) resulting from allegations that Jumia
may have issued materially misleading business information to the
investing public.
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 $6.22, or over 18%, to close at
$26.89 on May 9, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by Jumia investors. If you purchased shares of Jumia please
visit the firm’s website at http://www.rosenlegal.com/cases-register-1569.html
to join the class action. You may also contact Phillip Kim of Rosen Law
Firm toll free at 866-767-3653 or via email at [email protected]
or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013. Rosen
Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contacts
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275
Madison Avenue, 34th Floor
New York, NY 10016
Tel:
(212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com
