JMIA CLASS ACTION REMINDER: Hagens Berman Reminds Jumia Technologies (JMIA) Investors of Class Action, Encourages Investors Who Lost $100,000+ to Contact the Firm

05/23/2019

San Francisco - Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and eighty attorneys, reminds investors in Jumia Technologies AG (NYSE: JMIA) of the securities class action, Strugala v. Jumia Technologies AG et al., No. 1:19-cv-04397, pending in the U.S. District Court for the Southern District of New York.

If you purchased or otherwise acquired Jumia securities between April 12, 2019 and May 9, 2019 (the “Class Period”) and suffered losses, you do not need to sign up to be included in the putative class of investors.

If you suffered losses in excess of $100,000, you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.  If you wish to serve as lead plaintiff in this class action, you must move the Court no later than July 15, 2019 (the “Lead Plaintiff deadline”).  Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:

https://www.hbsslaw.com/cases/JMIA

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

JMIA@hbsslaw.com.

According to the complaint, Defendants misled investors in part by concealing (1) Jumia materially overstated its active customers and active merchants, and (2) Jumia overstated its sales.

“We’re focused on investors’ losses, whether the matters raised by Citron on May 9, 2019 are correct, and the extent to which investors may have been misled,” said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding Jumia should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new 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 Reed Kathrein at 510-725-3000 or email JMIA@hbsslaw.com.

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Contact:
Reed Kathrein, 510-725-3000


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05/09/19: Investigation