NEW YORK, Aug. 01, 2023 (GLOBE NEWSWIRE) — Attention Tingo Group, Inc. (“Tingo”) TIO shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between December 1, 2022 and June 6, 2023.
If you suffered a loss on your investment in Tingo, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Tingo includes allegations that the Company made 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
Aggrieved Tingo investors only have until August 7, 2023 to request that the Court…
The post CLASS ACTION ALERT: The Law Offices of Vincent Wong Remind Tingo Investors of a … – Press Release appeared first on CaymanMama.com.
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