TEUM.US
id: 538, Created by Stan Vick, Scout
Pareteum Corp (TEUM) $5.65M Investor Settlement
How it works?
- Company agreed to settle with investors to avoid further litigation
- We prepare documents and claim payout for you
Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New York
Court19-CV-09767
Case number14 Dec 2017
Class period Start21 Oct 2019
Class period End03 Apr 2023
Claim deadlinePareteum Corporation (TEUM) agreed to pay up to $5.65 million to settle a securities class action lawsuit to avoid further litigation.
The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
- Pareteum improperly and inaccurately recognized revenue for certain customer transactions;
- Pareteum’s financial statements for the fiscal year ending December 31, 2018, and quarters of ending March 31, 2019, and June 30, 2019, were false and could not be relied on.
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Filing date
22 October 2019
Plaintiffs
Kevin Ivkovich, Stephen Jones, Keith Moore, Nicholas Steffey, Robert E. Whitley, Jr.
Attorneys
Kahn Swick & Foti, LLC (New Orleans, LA)
Defendants
Robert H. “Hal” Turner, Edward “Ted” O’Donnell, Victor Bozzo, Denis McCarthy, Dawson James Securities, Inc., Squar Milner, LLP
Judge
Hon. Alvin K. Hellerstein
Administrator
Strategic Claims Services
Court hearing date
25 April 2023
Objection deadline
03 April 2023
Trades matching type
FIFO
+$5,650,000
Total Settlement Amount