Cases
Teligent, Inc. (NASDAQ: TLGT)
Securities Class Action
Overview
Overview
- Date:
- 6/11/2019
- Company Name:
- Teligent, Inc.
- Stock Symbol:
- TLGT
- Class Period:
- FROM 5/2/2017 TO 11/7/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, June 11, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Teligent, Inc. (NASDAQ: TLGT) securities between May 2, 2017 and November 7, 2017 (the “Class Period”). Investors have until June 14, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Teligent violated provisions of the Exchange Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission ("SEC"). Specifically, Teligent made false and/or misleading statements regarding, and/or failed to disclose, product non-conformities in research and development and non-compliance with applicable regulations.
On November 6, 2017, after market close, Teligent filed a Form 8-K with the SEC disclosing discouraging third quarter 2017 earnings. Total revenue fell to $13.7 million from the previous quarter's $18.4 million, a 25.5% drop, and from third quarter 2016's $16.2 million, a 15.4% drop. Teligent's press release quoted President and CEO Jason Grenfell-Gardner attributing the drop in revenue to FDA approval delays and competition. On this news, Teligent's share price fell $2.29 on November 7, 2017.
If you purchased Teligent securities suffered a loss, have information, 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 Teligent violated provisions of the Exchange Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission ("SEC"). Specifically, Teligent made false and/or misleading statements regarding, and/or failed to disclose, product non-conformities in research and development and non-compliance with applicable regulations.
On November 6, 2017, after market close, Teligent filed a Form 8-K with the SEC disclosing discouraging third quarter 2017 earnings. Total revenue fell to $13.7 million from the previous quarter's $18.4 million, a 25.5% drop, and from third quarter 2016's $16.2 million, a 15.4% drop. Teligent's press release quoted President and CEO Jason Grenfell-Gardner attributing the drop in revenue to FDA approval delays and competition. On this news, Teligent's share price fell $2.29 on November 7, 2017.
If you purchased Teligent securities suffered a loss, have information, 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.