SAN FRANCISCO, Oct. 23, 2019 /PRNewswire/ -- Hagens Berman alerts investors in Pareteum Corporation (TEUM) to recently filed federal securities class actions against the Company and its senior officials. The firm urges TEUM investors who have suffered losses in excess of $100,000 to submit your loss now to learn if they qualify to recover their investment losses.
TEUM Securities Class Actions:
According to the Complaints, Defendants throughout the Class Period misrepresented and concealed that: (1) Pareteum improperly and inaccurately recognized revenue for certain customer transactions; (2) Pareteum's financial statements for the fiscal year ending December 31, 2018 and quarters of ending March 31, 2019 and June 30, 2019 were false and could not be relied on; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the Complaints allege that investors suffered damages.
"We're focused on investors' losses and whether the Company inflated its reported revenues," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of TEUM and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Pareteum should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email TEUM@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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