NEWTOWN SQUARE, Pa., May 09, 2019 (GLOBE NEWSWIRE) -- Kaskela Law LLC has commenced an investigation of Jumia Technologies AG (NYSE: JMIA) (“Jumia”) on behalf of the company’s investors. The investigation seeks to determine whether Jumia violated the federal securities laws in connection with statements made to investors.
On May 9, 2019, Citron Research published a report alleging that Jumia has misrepresented to investors, among other things, its active consumer and active merchant figures. The Citron report further alleged that Jumia (i) “is a fraud and deserves immediate SEC attention” and (ii) “is the most expensive US listed ecommerce company with an unviable business.”
Following the publication of the Citron report, Jumia’s shares declined $6.22 per share, or nearly 19% in value, to close on May 9, 2019 at $26.89 per share.
Investors who purchased Jumia’s shares prior to May 9, 2019 and suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or online at http://kaskelalaw.com/case/jumia-technologies-ag/, to discuss this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Boulevard, Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
skaskela@kaskelalaw.com
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