Teligent, Inc.
| Company Name | Teligent, Inc. |
| Stock Symbol | TLGT |
| Class Period | May 02, 2017 to November 07, 2017 |
| Lead Plaintiff Motion Deadline | June 14, 2019 |
On November 6, 2017, the Company reported $13.7 million revenue for third quarter 2017, which was a 15.4% decline from third quarter 2016 and a 25.5% quarter-over-quarter decline. The Company attributed these disappointing results to significant R&D, production, and legal issues affecting the Company.
On this news, the Company’s share price fell $2.29 per share, more than 43%, to close at $2.96 per share on November 7, 2017, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company’s product non-conformities in R&D and non-compliance with applicable regulations; and (2) as a result, the Company's public statements were materially false and misleading at all relevant times.
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