NEW YORK, April 18, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Mobile TeleSystems PJSC (NYSE: MBT) from March 19, 2014 through March 7, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Mobile TeleSystems investors under the federal securities laws.
To join the Mobile TeleSystems class action, go to http://pawarlawgroup.com/cases/mobile-telesystems-pjsc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Mobile TeleSystems and its subsidiary were involved in a scheme to pay $420 million in bribes in Uzbekistan; (2) consequently, Mobile TeleSystems knew or should have known it would be forced to pay substantial fines to the U.S. government after disclosing in 2014 that the U.S. Department of Justice and Securities and Exchange Commission were investigating its Uzbekistan operations; (3) Mobile TeleSystems’ level of cooperation with the U.S. government and remediation was lacking; (4) due to the aforementioned misconduct, Mobile TeleSystems would be forced to pay approximately $850 million in criminal penalties to the U.S. government; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 20, 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://pawarlawgroup.com/cases/mobile-telesystems-pjsc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com