LOS ANGELES--(BUSINESS WIRE)--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.
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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 firstname.lastname@example.org, 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 email@example.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.
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