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 Pareteum Corp. (NASDAQ: TEUM) resulting from allegations that Pareteum may have issued materially misleading business information to the investing public.
On October 21, 2019, after the market closed, Pareteum announced that it would restate its previously issued consolidated financial statements as of and for the full year ended December 31, 2018, and interim periods ended March 31, 2019 and June 30, 2019. According to the Company, “[t]he decision to restate these financial statements is based on the Company’s conclusion that certain revenues recognized during 2018 and 2019 should not have been recorded during that period. For certain customer transactions, the Company may have prematurely or inaccurately recognized revenue.”
On this news, the Company’s shares fell sharply during intraday trading on October 22, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Infosys investors. If you purchased shares of Pareteum please visit the firm’s website at http://www.rosenlegal.com/cases-register-1701.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.
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Contacts
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th 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
