BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Teligent, Inc. (“Teligent” or the “Company”) (NASDAQ: TLGT) securities between May 2, 2017 and November 7, 2017, inclusive (the “Class Period”). Teligent investors have until June 14, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Teligent investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On November 6, 2017, the Company reported $13.7 million revenue for third quarter 2017, which was a 15.4% decline from third quarter 2016 and a 25.5% quarter-over-quarter decline. The Company attributed these disappointing results to significant R&D, production, and legal issues affecting the Company.
On this news, the Company’s share price fell $2.29 per share, more than 43%, to close at $2.96 per share on November 7, 2017, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company’s product non-conformities in R&D and non-compliance with applicable regulations; and (2) as a result, the Company's public statements were materially false and misleading at all relevant times.
If you purchased shares of Teligent, 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 email@example.com, or visit our website at www.howardsmithlaw.com.
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