NEW YORK, June 26, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Jumia Technologies AG (NYSE: JMIA) from April 12, 2019 through May 9, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Jumia investors under the federal securities laws.

If you wish to serve as lead plaintiff, you must move the Court no later than July 15, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation http://zhanginvestorlaw.com/join-action-form/?slug=jumia-technologies-ag&id=1869 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756, or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or 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 Jumia’s sales; (3) Jumia failed to sufficiently disclose related party transactions; (4) Jumia’s financial statements were presented in violation of applicable accounting standards; and (5) as a result of the foregoing, defendants’ positive statements about Jumia’s business, operations, and prospects, were materially misleading and lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class has not been certified.  You may retain counsel of your choice.  You may take no action at this time and be an absent class member.  Your ability to obtain a recovery is not dependent upon being a lead plaintiff.  

Zhang Investor Law represents investors worldwide.  Attorney Advertising.  Prior results do not guarantee future results.

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