LOS ANGELES, CA / ACCESSWIRE / May 7, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ:XELA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between March 16, 2018 and March 16, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before May 22, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, 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 [email protected].
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.
According to the Complaint, the Company made false and misleading statements to the market. Exela's recent financial statements were riddled with errors that would require restatement to fix. These errors affected the Company's statements for the 12 months ended December 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019. Based on these facts, the Company's public statements were false and materially misleading. When the market learned the truth about Exela, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm