The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Jumia Technologies AG (NYSE: JMIA) securities between April 12, 2019 and May 9, 2019.
According to the Jumia lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) Jumia had materially overstated its active customers and active merchants; (b) Jumia’s representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated the Company’s sales; (c) Jumia failed to sufficiently disclose related party transactions; and (d) Jumia’s financial statements were presented in violation of applicable accounting standards.
If you suffered a loss in Jumia you have until July 15, 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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