SAN DIEGO, Aug. 05, 2023 (GLOBE NEWSWIRE) — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Tingo Group, Inc. TIO securities between December 1, 2022 and June 6, 2023, all dates inclusive (the “Class Period”) have until this Monday, August 7, 2023 to seek appointment as lead plaintiff of the Tingo Group class action lawsuit. The Tingo Group class action lawsuit charges Tingo Group, certain of its top executives, and a majority shareholder of Tingo, Inc. with violations of the Securities Exchange Act of 1934. The first-filed complaint is captioned Arbour v. Tingo Group, Inc., No. 23-cv-03151 (D.N.J.). A subsequently filed complaint is captioned Bloedorn v. Tingo Group Inc., No. 23-cv-03153 (D.N.J.).
If you suffered substantial losses and wish to serve as lead plaintiff of the Tingo Group class action lawsuit, please provide your information here:
https://ift.tt/0lGQEav
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.
CASE ALLEGATIONS: Tingo Group purports to be a holding company that operates in the areas of financial technology and agri-fintech through its subsidiaries and entities. As of March 30, 2023, Tingo, Inc. owned 15.7% of Tingo Group’s outstanding common stock.
The Tingo Group class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Tingo, Inc.’s majority shareholder, defendant Dozy Mmobuosi, fabricated biographical claims about himself; (ii) Tingo Group had photoshopped its logo onto pictures of airplanes it did not own; (iii) Tingo Group inflated its food division margins; (iv) Tingo Group published misleading images of its planned Nigerian food processing facility and overstated its progress on the facility’s construction; (v) Tingo Group inflated its food inventory; (vi) Tingo Group did not have…
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