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SAN FRANCISCO,– Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and 80 attorneys, alerts investors in Jumia Technologies AG (NYSE: JMIA) to the firm’s investigation into possible disclosure violations.
If you purchased or otherwise acquired Jumia securities before May 9, 2019, suffered losses, and wish to learn more about the investigation or have knowledge of facts that may assist the firm’s investigation contact Hagens Berman:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On May 9, 2019, Citron Research published a report questioning data contained in Jumia’s April 2019 IPO materials versus data contained in an October 2018 confidential presentation. The report accuses Jumia of (1) overstating certain financial metrics in the prospectus, and (2) omitting adverse information about the number of returned, undelivered, or canceled orders from the prospectus. In response, the price of Jumia ADSs significantly fell on May 9, 2019.
“We’re focused on investors’ losses, whether the matters raised by Citron are correct, and whether investors may have been misled,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Jumia should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email mailto:[email protected]
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