Glancy Prongay & Murray LLP Announces Investigation on Behalf of Jumia Technologies AG Investors
LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24JMIA&src=ctag” target=”_blank”gt;$JMIAlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”) announces an investigation on
behalf of Jumia Technologies AG (“Jumia” or the “Company”) (NYSE: JMIA)
investors concerning the Company and its officers’ possible violations
of federal securities laws.
If you are a shareholder who suffered a loss, click here to
participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
On May 9, 2019, Citron Research reported that Jumia is the “most obvious
fraud” the firm has ever seen in 18 years of publishing research. Citron
further emphasized the company’s “material discrepancies” between the
confidential investor presentation from October 2018 and what the
company told the Securities and Exchange Commission, including:
inflating active customer and active merchant numbers by 20% to 30%; and
that 41% of orders were returned, not delivered or canceled.
On this news, shares of Jumia fell $6.22, or over 18%, to close at
$26.89 on May 9, 2019, thereby injuring investors.
If you purchased Jumia 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 Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley F.
Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com