BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith 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.
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 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 over 20% during intraday trading, 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 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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