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NEW YORK, May 15, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Teligent, Inc. (“Teligent” or the “Company”) (NASDAQ: TLGT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Teligent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 6, 2017, Teligent issued a press release announcing its financial and operating results for the third quarter of 2017, which disclosed significant R&D, production, and legal issues affecting the Company. Teligent’s total revenue fell to $13.7 million, a drop of 15.4% from revenue of $16.2 million in the same period in the prior year and 25.5% from the Company’s revenue of $18.4 million in the second quarter of 2017.
On this news, Teligent’s stock price fell $2.29 per share, or 43.62%, to close at $2.96 per share on November 7, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby