Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Teligent, Inc.
LOS ANGELES , May 16, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming June 14, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Teligent, Inc. (“Teligent” or the “Company”) (NASDAQ: TLGT ) investors who purchased securities between May 2, 2017 and November 7, 2017, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
On November 6, 2017, the Company reported $13.7 million revenue for third quarter 2017, which was a 15.4% decline from third quarter 2016 and a 25.5% quarter-over-quarter decline. The Company attributed these disappointing results to significant R&D, production, and legal issues affecting the Company.
On this news, the Company’s share price fell $2.29 per share, more than 43%, to close at $2.96 per share on November 7, 2017, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company’s product non-conformities in R&D and non-compliance with applicable regulations; and (2) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased or otherwise acquired Teligent securities during the Class Period you may move the Court no later than June 14, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.