NEW YORK, May 10, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Jumia Technologies AG (JMIA) on behalf of Jumia stockholders. Our investigation concerns whether Jumia has violated the federal securities laws and/or engaged in other unlawful business practices.
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On or about April 12, 2019, Jumia sold 13.5 million shares of stock in its initial public offering (the “IPO”), at $14.50 per share raising $196 million in new capital. On May 9, 2019, Citron Research published a report questioning data contained in Jumia’s April 2019 IPO materials versus data contained in an October 2018 confidential presentation. The report accuses Jumia of (1) overstating certain financial metrics in the prospectus, and (2) omitting adverse information about the number of returned, undelivered, or canceled orders from the prospectus.
On this news, Jumia’s share price fell by more than 19%, closing at $26.89 on May 9, 2019.
If you purchased or otherwise acquired Jumia shares, have information, 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 Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Jumia please go to https://bespc.com/jmia/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.