Kahn Swick & Foti

Kahn Swick & Foti represents investors in securities fraud class actions, as well as shareholders and consumers harmed by corporate wrongdoing.

KSF Appointed Lead Counsel in Pareteum Corporation Securities Litigation

Home»News»KSF Appointed Lead Counsel in Pareteum Corporation Securities Litigation

On January 10, 2020, Hon. Alvin K. Hellerstein, United States District Judge for the Southern District of New York, ordered KSF’s appointment as lead counsel for the class in In re Pareteum Securities Litigation, Case No. 1:19-cv-09767-AKH-GWG (S.D.N.Y.). Lead Plaintiff alleges that, throughout the Class Period (December 14, 2017 and October 21, 2019, inclusive), Defendants made materially false and misleading statements and failed to disclose material information, violating federal securities laws. On October 21, 2019, post-market, the Company revealed that it would be restating its financial statements for the full year 2018 and First Quarter and Second Quarter of 2019 because “certain revenues recognized during 2018 and 2019 should not have been recorded during that period,” that the restatements were “expected to impact Revenue, Cost of Service, Operating Income, Net Loss, Accounts Receivable and other Balance Sheet line items” and estimated to reduce revenue for fiscal year 2018 by approximately $9M and the first half of 2019 by approximately $24M. On this news, the price of Pareteum’s shares plummeted over 49%.

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Kahn Swick & Foti collects, uses, stores and transfers different kinds of personal information about you, such as:

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We will only use your personal data in ways permitted by law, which may or may not include consent, depending on the type of data obtained. Any information you submit to us may be used to communicate with you regarding the matter or case for which you provided the information, as well as to communicate with you regarding unrelated matters or cases.

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Marketing

We aim to provide you with choices regarding the use of your data for marketing purposes. We will not use your personal data to send you marketing materials if you have requested not to receive them.

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To exercise these rights with respect to any data provided to Kahn Swick & Foti, please contact us. All requests will be dealt with in accordance with the law.

Your California Privacy Rights

California Civil Code §1798.83 permits our clients who are California residents to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

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All data collected through this website, including data submitted by you, will be stored in the United States. Please note that, should you wish to submit personal data protected under European data protection law (other than for purposes of responding to your inquiry), you should contact us prior to submitting such data to discuss options.

We will only retain your personal data for as long as necessary to satisfy the purpose for which it was collected. Examples include satisfying legal, regulatory, accounting, reporting requirements and/or executing legal work for which we were retained by you. The specific retention period applicable to the type of data obtained will depend upon a variety of factors, including the data type, purpose for which it was obtained, and the nature, volume and sensitivity of the personal data, among others. If you would like to know more about data retention, please contact us.

Changes to Our Privacy Policy

Kahn Swick & Foti reserves the right to change this policy at any time by posting a new privacy policy at this location.

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If you have questions concerning this Privacy Notice, wish to obtain additional information, or exercise specific data subject rights pursuant to European law (including the General Data Protection Regulation, and other country-specific data protection laws that may apply), please contact us.