NEW
YORK, July 26, 2023 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Tingo
Group, Inc..
Shareholders who purchased shares of TIO during the class period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/tingo-loss-submission-form/?id=42557&from=4
CLASS PERIOD: December 1,
2022 to June 6, 2023
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued 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.
DEADLINE: August 7, 2023
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/tingo-loss-submission-form/?id=42557&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of TIO during the timeframe listed
above, you will be enrolled in a portfolio monitoring software to
provide you with status updates throughout the lifecycle of the
case. The deadline to seek to be a lead plaintiff is August 7, 2023. There is no cost or obligation to
you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm