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 reminds investors of the upcoming June
14, 2019 deadline to file a lead plaintiff motion in the class
action 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”).
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
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 during the Class Period you may move
the Court no later than June 14, 2019 to ask the Court
to appoint you as lead plaintiff if you meet certain legal requirements.
To be a member of the class action you need not take any action at this
time; you may retain counsel of your choice or take no action and remain
an absent member of the class action. If you wish to learn more about
this class action, or if you 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.