Tingo Group Investigated by Block & Leviton For Potential Securities Law Violations; Investors Who Have Lost Money Are Encouraged to Contact the Firm

Boston, MA


BOSTON, June 06, 2023 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Tingo Group, Inc. (NASDAQ: TIO) for potential securities law violations. Investors who have lost money in their Tingo Group, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/tio.

What is this all about?

Before the market open on June 6, 2023, well known short seller Hindenburg Research issued a report alleging issues at Tingo Group. The report highlighted “red flags” with founder and CEO Dozy Mmobuosi’s background, and described irreconcilable financial statements and other unverifiable and unsubstantiated claims made by the company. The report concluded “Overall, we think Tingo is a worthless and brazen fraud that should serve as a humiliating embarrassment for all involved. We do not expect the company will be long for this world.”

Shares of Tingo Group, Inc. stock dropped more than 45% in premarket trading.

Who is eligible?

Anyone who purchased Tingo Group, Inc. stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What is Block & Leviton doing?

Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.

What should you do next?

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com 

SOURCE: Block & Leviton LLP
www.blockleviton.com