Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Triterras, Inc. f/k/a Netfin Acquisition Corp. from August 20, 2020 through December 16, 2020 (the “Class Period”). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.
If you purchased Triterras securities, and/or would like to discuss your legal rights and options please visit Triterras Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that the Defendants made false and/or misleading statements and/or failed to disclose: (1) the extent to which the Company’s revenue growth was dependent on Triterras’ relationship with Rhodium Resources Pte. Ltd. (“Rhodium”) to refer users to the Kratos platform; (2) that Rhodium faced significant financial liabilities that jeopardized its ability to continue as a going concern; (3) that, as a result, Rhodium was likely to refer fewer users to the Company’s Kratos platform; and (4) as a result of the foregoing, Defendants’ positive statements about Triterras’ business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On December 17, 2020, Triterras announced that “a statutory demand for payment from […] Rhodium Resources Pte. Ltd. (“Rhodium”) was filed by a creditor of Rhodium on December 1, 2020 pursuant to the Singapore Insolvency, Restructuring and Dissolution Act.” Triterras described Rhodium in its announcement as “instrumental to the initial launch of the Company’s Kratos platform and the platform’s attractiveness to the commodities trading and trade financing communities[.]”
On this news, the Company’s stock price fell $4.11, or approximately 31%, to close at $9.09 per share on December 17, 2020.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 19, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery does not require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Triterras securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/triterrasinc-trit-shareholder-class-action-lawsuit-fraud-stock-346/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
Matthew E. Guarnero
Bernstein Liebhard LLP