NEW YORK, June 20, 2023 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Tingo Group, Inc. (NASDAQ: TIO) alleging that the Company violated federal securities laws.
Class Period: December 1, 2022 to June 6, 2023
Lead Plaintiff Deadline: August 7, 2023
No obligation or cost to you.
Learn more about your recoverable losses in TIO:
https://www.kleinstocklaw.com/pslra-1/tingo-lawsuit-loss-submission-form?id=41017&from=4
Tingo Group, Inc. NEWS - TIO NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Tingo Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Defendant Mmobuosi fabricated biographical claims about himself; (2) Tingo had photoshopped its logo onto pictures of airplanes it did not own; (3) Tingo inflated its food division margins; (4) Tingo published misleading images of its planned Nigerian food processing facility and overstated its progress on the facility's construction; (5) Tingo inflated its food inventory; (6) Tingo did not have relationships with the two farming cooperatives it claimed; (7) Tingo did not generate $128 million in revenue for its handset leasing, call and data segments as it claimed; (8) Tingo's Mobile operation in Nigeria was delinquent on its tax obligations; (9) Tingo photoshopped its logo over pictures from a different point of sale system operator's website; (10) Tingo did not generate $125.3 million in revenue from its online marketplace called NWASSA; (11) Tingo's agricultural export business was not on track to deliver $1.34 billion in exports by Q3 2023; (12) Tingo lacked effective controls over accounting and financial reporting; and (13) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Tingo you have until August 7, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Tingo securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the TIO lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/tingo-lawsuit-loss-submission-form?id=41017&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm
