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Glancy Prongay & Murray LLP, a Leading National Securities Fraud Law Firm, Announces Investigation of Telenav, Inc. (TNAV) on Behalf of Investors

February 12, 2020 GMT

LOS ANGELES--(BUSINESS WIRE)--Feb 12, 2020--

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Telenav, Inc. (“Telenav” or the “Company”) (NASDAQ: TNAV ) investors concerning the Company and its officers’ possible violations of the federal securities laws.

If you suffered a loss on your Telenav investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email shareholders@glancylaw.com or visit our website at www.glancylaw.com to learn more about your rights.

On February 11, 2020, Telenav disclosed that it was unable to timely file its quarterly report for the period ended December 31, 2019. In a Form 12b-25 filed with the SEC, the Company stated that it had “updated its reporting of revenue related to its agreements with Grab Holdings, Inc.,” resulting revenue corrections for the quarter ended September 30, 2019 and other adjustments. Telenav also disclosed that there was ”a material weakness in its internal control over financial reporting as of September 30, 2019 and December 31, 2019.”

On this news, the Company’s shares fell sharply during after-hours trading on February 11, 2020, thereby injuring investors.

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Whistleblower Notice: Persons with non-public information regarding Telenav should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.

About GPM

Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200212005822/en/

CONTACT: Glancy Prongay & Murray LLP, Los Angeles

Charles H. Linehan, 310-201-9150 or 888-773-9224

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2020.

PUB: 02/12/2020 04:00 PM/DISC: 02/12/2020 04:00 PM

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