INVESTIGATION ALERT: The Schall Law Firm Announces It Is Investigating Claims Against Telenav, Inc. and Encourages Investors with Losses to Contact the Firm
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Telenav, Inc. (“Telenav” or “the Company”) (NASDAQ: TNAV) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Telenav admitted on February 11, 2020, that it would be unable to file its quarterly report for the period ended December 31, 2019, in a timely manner. The Company filed a Form 12b-25 filed with the SEC, stating that it had "updated its reporting of revenue related to its agreements with Grab Holdings, Inc." which resulted in revenue corrections for the quarter ending September 30, 2019, among other adjustments. Telenav also admitted "a material weakness in its internal control over financial reporting as of September 30, 2019 and December 31, 2019."
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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