LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Jumia Technologies AG (“Jumia” or “the Company”) (NYSE: JMIA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Citron Research published a report on May 9, 2019, focused on Jumia. Citron called the Company "most obvious fraud" it has seen in 18 years of publishing research. The report in particular notes "material discrepancies" between what was communicated in an investor presentation in October 2018, and what was presented to the SEC. Among the information revealed was that 41% of orders were returned, not delivered, or canceled. Based on this report, shares of Jumia fell steeply on the same day.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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