NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Jumia Technologies AG (NYSE: JMIA) resulting from allegations that Jumia may have issued materially misleading business information to the investing public.
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.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Jumia investors. If you purchased shares of Jumia please visit the firm’s website at http://www.rosenlegal.com/cases-register-1569.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.