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A class action has been filed on behalf of Jumia Technologies AG Investors. Click "Join this Class Action" above.

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Jumia Technologies AG

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Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Jumia Technologies AG (NYSE: JMIA) from April 12, 2019 through May 9, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Jumia investors under the federal securities laws.

If you bought Jumia securities from April 12, 2019 through May 9, 2019 and would like to join the action, please click “Join This Class Action,” above.

Press Release

SHAREHOLDER ALERT: Zhang Investor Law Announces the Filing of a Securities Class Action Lawsuit Against Jumia Technologies AG – JMIA

New York, N.Y., May 29, 2019. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Jumia Technologies AG (NYSE: JMIA) from April 12, 2019 through May 9, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Jumia investors under the federal securities laws.

To join the Jumia class action, go to http://zhanginvestorlaw.com/cases/jumia-technologies-ag/ or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Jumia had materially overstated its active customers and active merchants; (2) Jumia’s representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated Jumia’s sales; (3) Jumia failed to sufficiently disclose related party transactions; (4) Jumia’s financial statements were presented in violation of applicable accounting standards; and (5) as a result of the foregoing, defendants’ positive statements about Jumia’s business, operations, and prospects, were materially misleading and lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 15, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/jumia-technologies-ag/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at info@zhanginvestorlaw.com.

Zhang Investor Law represents investors worldwide.
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