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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of JMIA, MOMO and CTST

NEW YORK, NY / ACCESSWIRE / July 15, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Jumia Technologies AG (JMIA)

Investors Affected : Purchasers of American Depositary Shares between April 12, 2019 and May 9, 2019

A class action has commenced on behalf of certain shareholders in Jumia Technologies AG. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Jumia had materially overstated its active customers and active merchants; (b) Jumia’s representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated the Company’s sales; (c) Jumia failed to sufficiently disclose related party transactions; and (d) Jumia’s financial statements were presented in violation of applicable accounting standards.

Shareholders may find more information at https://securitiesclasslaw.com/securities/jumia-technologies-ag/?id=2402&from=1

Momo Inc. (MOMO)

Investors Affected : April 21, 2014 - April 29, 2019

A class action has commenced on behalf of certain shareholders in Momo Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Momo’s compliance procedures and controls were inadequate to prevent, inter alia, illicit financial reporting activity; (ii) Momo’s social and dating app, Tantan, was materially noncompliant with PRC law and/or regulations; (iii) Tantan was consequently at an increased risk of being removed from Chinese app stores at the direction of Chinese governmental authorities; and (iv) as a result, Momo’s public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/momo-inc/?id=2402&from=1

CannTrust Holdings Inc. (CTST)

Investors Affected : November 14, 2018 - July 5, 2019

A class action has commenced on behalf of certain shareholders in CannTrust Holdings Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) the Company’s Pelham greenhouse did not comply with certain regulations; (3) as a result, the Company was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) as a result, the Company’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/canntrust-holdings-inc-loss-submission-form/?id=2402&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/551947/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-JMIA-MOMO-and-CTST