LOS ANGELES, July 15, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Jumia Technologies AG (“Jumia” or “the Company”) (JMIA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between April 12, 2019 and May 9, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before July 15, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Jumia overstated both its current active merchants and active customers. The Company’s statements about orders, cancellations, undelivered orders, and returned orders were not factual and overstated sales. The Company failed to disclose transactions with related parties. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about Jumia, investors suffered damages.
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