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INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Mobile TeleSystems Public Joint Stock Company Investors


Law Offices of Howard G. Smith announces an investigation on behalf of Mobile TeleSystems Public Joint Stock Company investors (“Mobile TeleSystems” or the “Company”) (NYSE: MBT) concerning the Company and its officers’ possible violations of federal securities laws.

On November 20, 2018, Mobile TeleSystems disclosed that it had reserved approximately $840 million to cover potential liability concerning investigations by the U.S. Securities and Exchange Commission (“SEC”) and Department of Justice (“DOJ”) into the Company's former operations in Uzbekistan.

Then, on March 7, 2019, the DOJ announced that Mobile TeleSystems and its subsidiary had entered into an agreement with the DOJ and SEC to pay a combined $850 million in penalties to resolve charges arising from its role in a scheme to pay $420 million in bribes in Uzbekistan.

On this news, shares of Mobile TeleSystems fell $0.24, or 3.08%, to close at $7.54 per share on March 7, 2019, thereby injuring investors.

If you purchased Mobile TeleSystems securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190328006011/en/