Cases
Mobile TeleSystems PJSC (MBT)
Securities Class Action
Overview
Overview
- Date:
- 3/20/2019
- Company Name:
- Mobile TeleSystemes PJSC
- Stock Symbol:
- MBT
- Class Period:
- FROM 3/19/2014 TO 3/7/2019
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Eastern District of New York
NEW YORK, March 20, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Mobile TeleSystems PJSC (NYSE: MBT) securities between March 19, 2014 and March 7, 2019 (the “Class Period”). Investors have until May 20, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Mobile TeleSystems and its subsidiary were involved in a scheme to pay $420 million in bribes in Uzbekistan; (2) consequently, Mobile TeleSystems knew or should have known it would be forced to pay substantial fines to the U.S. government after disclosing in 2014 that the U.S. Department of Justice and Securities and Exchange Commission were investigating its Uzbekistan operations; (3) Mobile TeleSystems’ level of cooperation with the U.S. government and remediation was lacking; (4) due to the aforementioned misconduct, Mobile TeleSystems would be forced to pay approximately $850 million in criminal penalties to the U.S. government; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
If you purchased Mobile TeleSystems securities during the Class Period or continue to hold shares purchased before the Class Period, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Mobile TeleSystems and its subsidiary were involved in a scheme to pay $420 million in bribes in Uzbekistan; (2) consequently, Mobile TeleSystems knew or should have known it would be forced to pay substantial fines to the U.S. government after disclosing in 2014 that the U.S. Department of Justice and Securities and Exchange Commission were investigating its Uzbekistan operations; (3) Mobile TeleSystems’ level of cooperation with the U.S. government and remediation was lacking; (4) due to the aforementioned misconduct, Mobile TeleSystems would be forced to pay approximately $850 million in criminal penalties to the U.S. government; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
If you purchased Mobile TeleSystems securities during the Class Period or continue to hold shares purchased before the Class Period, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.