PHILADELPHIA, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. continues its investigation of potential securities claims on behalf of investors of Pareteum Corporation (“Pareteum” or the “Company”) (NasdaqCM: TEUM) concerning possible violations of the federal securities laws and possible claims of breaches of fiduciary duties by the Board of Directors of the Company.
Pareteum investors who have suffered losses greater than $100K are encouraged to contact John Kehoe, Esq, (215) 792-6676, Ext. 801, jkehoe@kehoelawfirm.com, or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, myarnoff@kehoelawfirm.com, info@kehoelawfirm.com to learn more about the investigation or potential legal claims.
On October 21, 2019, Pareteum issued a press release announcing that “. . . the Company will restate its previously issued consolidated financial statements as of and for the full year ended December 31, 2018, and interim periods ended March 31, 2019 and June 30, 2019.” Further, Pareteum stated that its decision to restate its financials “. . . is based on the Company’s conclusion that certain revenues recognized during 2018 and 2019 should not have been recorded during that period. For certain customer transactions, the Company may have prematurely or inaccurately recognized revenue.”
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion dollars on behalf of institutional and individual investors.
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