According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Tingo overstated its revenue and other accounting metrics, creating a false impression of success;
- Tingo was not meaningfully engaged in many of the business activities that it claimed would drive future growth;
- many of Tingo’s supposed contracts with customers and suppliers did not exist; and
- in light of the above, defendants’ positive statements about Tingo’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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