id: 538, Created by Stan Vick, Scout
Pareteum Corp (TEUM) $5.65M Investor Settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New YorkCourt
14 Dec 2017Class period Start
21 Oct 2019Class period End
03 Apr 2023Claim deadline
Pareteum 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.
22 October 2019
Kevin Ivkovich, Stephen Jones, Keith Moore, Nicholas Steffey, Robert E. Whitley, Jr.
Kahn Swick & Foti, LLC (New Orleans, LA)
Robert H. “Hal” Turner, Edward “Ted” O’Donnell, Victor Bozzo, Denis McCarthy, Dawson James Securities, Inc., Squar Milner, LLP
Hon. Alvin K. Hellerstein
Strategic Claims Services
Court hearing date
25 April 2023
03 April 2023
Trades matching type
+$5,650,000Total Settlement Amount
29 September 2023
Pareteum Execs Arrested for $42M Rev Fraud
- The former CEO and CFO of bankrupt Pareteum Corp. were reportedly arrested. T
- hey are accused of artificially inflating the company's revenues by $42 million through the alleged practice of booking nonbinding purchase orders.