fbpx

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Teligent, Inc. Investors

7 Views

LOS ANGELES–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24TLGT&src=ctag" target="_blank"gt;$TLGTlt;/agt; lt;a href="https://twitter.com/hashtag/CLASSACTION?src=hash" target="_blank"gt;#CLASSACTIONlt;/agt;–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 shareholders@glancylaw.com,
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 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.

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 shareholders@glancylaw.com,
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.

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com

leverton

I have been involved with publishing and marketing for the past 37 years. My passion is helping people share their voice. I am able to do this through two important venues: One, with Area-Info.net where people can share everything from opinions to events to news. It is your choice! What do you want to share? Two, through a new program called America's Real Deal I am involved with to help business owners get their voice heard.For people who love to save money and earn while saving, there is a new program called the r network. You are provided with a card that entitles the user to automatic savings on more than 300,000 products. Learn more about the revv card today. This is by invitation only to be some of the first people to get this card.I schedule speaking engagements with community groups and business groups to share my passion about the importance of "sharing your voice".Contact me directly at lee@leeeverton.com for scheduling information.

You May Also Like