CLASS ACTION UPDATE for LYFT, JMIA and TUSK: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

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NEW YORK, NY / ACCESSWIRE / July 12, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the lead plaintiff deadlines listed below to petition the court, and those interested in their eligibility are encouraged to contact the firm. There will be no cost or obligation to you.

Lyft, Inc. (NASDAQGS: LYFT)

Lawsuit on behalf of: investors who purchased pursuant or traceable to the Company’s Offering and Registration Statement issued in relation to the March 28, 2019 IPO
Lead Plaintiff Deadline : July 16, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/lyft-inc-loss-form?prid=2374&wire=1

According to the lawsuit, Lyft’s Offering materials issued in connection with its IPO failed to disclose that: (1) Lyft’s claimed ridesharing position was overstated; (2) more than 1,000 of the bicycles in Lyft’s rideshare program suffered from safety issues that would lead to their recall; (3) Lyft’s drivers were becoming disincentivized from driving for Lyft; (4) Lyft failed to warn investors that a labor disruption could affect its operations; and (5) as a result, Lyft’s public statements were materially false and misleading at all relevant times.

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Jumia Technologies AG (NYSE: JMIA)

Lawsuit on behalf of: investors who purchased Purchasers of American Depositary Shares between April 12, 2019 and May 9, 2019
Lead Plaintiff Deadline : July 15, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/jumia-technologies-ag-loss-form?prid=2374&wire=1

According to the filed complaint, (a) Jumia had materially overstated its active customers and active merchants; (b) Jumia’s representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated the Company’s sales; (c) Jumia failed to sufficiently disclose related party transactions; and (d) Jumia’s financial statements were presented in violation of applicable accounting standards.

Mammoth Energy Services, Inc. (NASDAQ: TUSK)

Lawsuit on behalf of: investors who purchased October 19, 2017 – June 5, 2019
Lead Plaintiff Deadline : August 9, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/mammoth-energy-services-inc-loss-form?prid=2374&wire=1

According to the filed complaint, during the class period, Mammoth Energy Services, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Mammoth’s subsidiary, Cobra, improperly obtained two infrastructure contracts with PREPA that totaled over $1.8 billion; (2) specifically, the contracts were awarded as the result of improper steering and not a competitive RFP process; and (3) as a result, Defendants’ statements about Mammoth’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
<!–Toll Free: (877) 363-5972
–> Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

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