LOS ANGELES, May 20, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Mobile TeleSystems PJSC (“Mobile TeleSystems” or “the Company”) (NYSE: MBT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between March 19, 2014 and March 7, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before May 20, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Mobile TeleSystems and a subsidiary engaged in a scheme to pay $420 million in bribes to officials in Uzbekistan. The Company disclosed in 2014 that it was the target of an investigation by the SEC and DOJ for its operations in Uzbekistan, and knew or should have known it would be subject to fines based on its business practices there. The Company was eventually forced to pay approximately $850 million in criminal penalties related to the bribery scheme. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about Mobile TeleSystems, investors suffered damages.
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