TEUM - Block & Leviton LLP Announces New Developments in Pareteum Litigation

BOSTON, Nov. 27, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, informs investors of new developments relevant to the pending securities class action against Pareteum Corporation (NASDAQ: TEUM) and certain of the Company’s officers and directors. 

On October 21, 2019, Pareteum announced that it would “restate its previously issued consolidated financial statements” for the 2018 fiscal year and the first and second quarters of 2019. The decision to restate was based on a conclusion that the Company improperly recorded revenues, and investors were warned to no longer rely on the company’s previously issued financial results. In after-market trading, Pareteum’s stock price dropped more than 15%.

Most recently, on November 25, 2019, Pareteum announced a “restructuring” of its leadership team, with Robert H. Turner being terminated as Chairman and CEO of the Company, effective November 22, 2019. On this news, the Company’s share price dropped almost 7%.

If you have purchased or otherwise acquired Pareteum securities between December 14, 2017 and November 25, 2019, and have questions about your legal rights, or possess information relevant to this matter, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/pareteum.

Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.

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CONTACT:

BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com