Glancy Prongay & Murray LLP (GPM) announces an investigation on behalf of Mobile TeleSystems Public Joint Stock Company (Mobile TeleSystems or the Company) (NYSE: MBT) investors concerning the Company and its officers possible violations of federal securities laws.
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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 [email protected], or visit our website at www.glancylaw.com.
On November 20, 2018, Mobile TeleSystems disclosed that it had reserved approximately $840 million to cover potential liability concerning investigations by the U.S. Securities and Exchange Commission (SEC) and Department of Justice (DOJ) into the Company’s former operations in Uzbekistan.
Then, on March 7, 2019, the DOJ announced that Mobile TeleSystems and its subsidiary had entered into an agreement with the DOJ and SEC to pay a combined $850 million in penalties to resolve charges arising from its role in a scheme to pay $420 million in bribes in Uzbekistan.
On this news, shares of Mobile TeleSystems fell $0.24, or 3.08%, to close at $7.54 per share on March 7, 2019, thereby injuring investors.
If you purchased Mobile TeleSystems securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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