LEAD PLAINTIFF DEADLINE IS DECEMBER 23, 2019

NEW YORK, Oct. 30, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that a federal securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of those who acquired Pareteum Corporation (“Pareteum” or the “Company”) (NASDAQ: TEUM) securities during the period from December 26, 2017 through October 21, 2019 (the “Class Period”).

All investors who purchased shares of Pareteum Corporation and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of Pareteum Corporation, you may, no later than December 23, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Pareteum Corporation.

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The  filed  complaint  alleges that the Company failed to disclose that:

• Pareteum improperly and inaccurately recognized revenue for certain customer transactions; and
   
• Pareteum’s financial statements for the fiscal year ending December 31, 2018 and quarters ending March 31, 2019 and June 30, 2019 were false and could no longer be relied on.

On October 21, 2019, Pareteum disclosed that certain revenues recognized during 2018 and 2019 should not have been recorded during that period and that, as a result, the Company would restate their previously issued consolidated financial statements as of and for the full year ended December 31, 2018, and interim periods ended March 31, 2019 and June 30, 2019.

On this news, shares of Pareteum fell $0.44, or 59.5%, to close at $0.29.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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