U.S. markets close in 30 minutes

EQUITY ALERT: ROSEN, NATIONAL INVESTOR COUNSEL, Announces Investigation of Securities Claims Against Exela Technologies, Inc. – XELA

Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Exela Technologies, Inc. (NASDAQ: XELA), resulting from allegations that Exela may have issued materially misleading business information to the investing public.

On March 16, 2020, Exela issued a press release announcing "that it will delay its earnings release and investor conference call for the fourth quarter and year ended December 31, 2019, previously scheduled for 5:00 p.m. (ET) today."

Then on March 17, 2020, Exela issued a press release announcing "that it will restate its financial statements for the years ended December 31, 2017 and 2018 and the interim periods through September 30, 2019 [] to correct certain historical accounting errors[,]" due to a material weakness in its internal control over financial reporting.

On this news, Exela’s stock price fell almost 22%, over the next two trading days from March 16 to close at $0.145 per share on March 18, 2020.

Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Exela investors. If you purchased shares of Exela please visit the firm’s website at http://www.rosenlegal.com/cases-register-1820.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 pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200318005792/en/


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