BENSALEM, Pa., June 12, 2019 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith reminds investors of the upcoming June 14, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Teligent, Inc. (“Teligent” or the “Company”) (NASDAQ: TLGT) securities between May 2, 2017 and November 7, 2017, inclusive (the “Class Period”).
Investors suffering losses on their Teligent investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
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.
If you purchased shares of Teligent during the Class Period you may move the Court no later than June 14, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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 these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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