The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Mobile TeleSystems PJSC (NYSE: MBT) securities between March 19, 2014 and March 7, 2019.
According to the MTS lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) MTS and its subsidiary were involved in a scheme to pay $420 million in bribes in Uzbekistan; (2) consequently, MTS knew or should have known it would be forced to pay substantial fines to the U.S. government after disclosing in 2014 that the U.S. Department of Justice and Securities and Exchange Commission were investigating its Uzbekistan operations; (3) MTS’ level of cooperation with the U.S. government and remediation was lacking; (4) due to the aforementioned misconduct, MTS would be forced to pay approximately $850 million in criminal penalties to the U.S. government; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
If you suffered a loss in MTS you have until May 20, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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