Glancy Prongay & Murray LLP (GPM), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Teligent, Inc.(Teligent or the Company) (NASDAQ: TLGT) securities between May 2, 2017 and November 7, 2017, inclusive (the Class Period). Teligent investors have until June 14, 2019 to file a lead plaintiff motion.
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 [email protected], 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 Companys 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 Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Companys 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 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. To be a member of the Class 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. 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, 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 protected], 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.