BOSTON, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, is investigating Pareteum Corp. (NYSE: TEUM) and its executive officers for potential violations of federal securities laws and is considering filing a lawsuit.
On October 21, 2019, Pareteum announced that it “will restate its previously issued consolidated financial statements” for its 2018 fiscal year and its first and second quarters of 2019. The decision to restate is based on a conclusion that the company improperly recorded revenues in 2018 and the first two quarters of 2019. Investors were warned to no longer rely on the company’s previously issued financial results. In after-market trading, Pareteum’s stock price was down more than 15%.
If you have purchased or otherwise acquired Pareteum securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/pareteum
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com