TEUM.US
id: 538
Pareteum Corp (TEUM) $5.65M Investor Settlement
S.D. New York
Court1:19-cv-09767
Case number12/14/2017
Class period Start10/21/2019
Class period End04/03/2023
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.
Case Status
Disbursed
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.022
Filing date
10/22/2019
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
04/25/2023
Objection deadline
04/03/2023
Trades matching type
FIFO
+$5,650,000
Cash Settlement Amount