|Company name||Jumia Technologies AG|
|Class period||April 12, 2019 – May 9, 2019|
|Court||Southern District of New York|
NEW YORK, July 12, 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 Jumia Technologies AG (NYSE: JMIA) securities between April 12, 2019 and May 9, 2019 (the “Class Period”). Investors have until July 15, 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 materially false and misleading statements about Jumia and its business. These statements are alleged to be materially false and misleading because they failed to disclose that: (1) Jumia had materially overstated its active customers and active merchants; (2) Jumia’s representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated the company’s sales; (3) Jumia failed to sufficiently disclose related party transactions; and (4) Jumia’s financial statements were presented in violation of applicable accounting standards.
If you purchased Jumia 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 Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.