Thieler Law Corp advises investors with losses exceeding $100,000 of the July 15, 2019 lead plaintiff deadline in a class action lawsuit filed against Jumia Technologies AG (NYSE: JMIA) (“Jumia” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Jumia Technologies AG securities between April 12, 2019 and May 9, 2019, have until July 15, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Jumia Technologies AG securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Jumia had materially overstated its active customers and active merchants; Jumia’s representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated Jumia’s sales; Jumia failed to sufficiently disclose related party transactions; Jumia’s financial statements were presented in violation of applicable accounting standards; and as a result of the foregoing, defendants’ positive statements about Jumia’s business, operations, and prospects, were materially misleading and lacked a reasonable basis.

On May 9, 2019, a report by Citron Research revealed that Jumia Technologies is the "most obvious fraud" the firm has ever seen in 18 years of publishing research. Furthermore, the report highlighted the company’s "material discrepancies" between the confidential investor presentation from October 2018 and what the company told the Securities and Exchange Commission, including: inflating active customer and active merchant numbers by 20% to 30%; and that 41% of orders were returned, not delivered or canceled.

Following this news, NYSE: JMIA fell $6.22, or over 18%, to close at $26.89 on May 9, 2019.

If you were negatively impacted by your investment in Jumia Technologies AG securities between April 12, 2019 and May 9, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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