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NASDAQ: XELA Shareholder Notice: Update in Lawsuit against Exela Technologies, Inc. announced

08-19-2022 04:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit is pending for certain investors in investors in Exela Technologies, Inc. (NASDAQ: XELA) shares.

A lawsuit is pending for certain investors in investors in Exela Technologies, Inc. (NASDAQ: XELA) shares.

The Shareholders Foundation announced an update in the lawsuit that is pending for certain investors in Exela Technologies, Inc. (NASDAQ: XELA).

If you purchased shares of Exela Technologies, Inc. (NASDAQ: XELA) have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. The plaintiff claims that between March 16, 2018 and March 16, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Exela's previously issued financial statements for the twelve months ended December, 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019 contained numerous accounting errors, could not be relied upon, and required restatement, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On August 11, 2020, an amended complaint was filed, and on October 12, 2020, the defendants filed a Motion to Dismiss the amended Complaint.

On June 24, 2021, the Court issued an Order granting Defendants' Motion to Dismiss, but gave leave to amend the Complaint.

On August 5, 2021, a second amended Complaint was filed and the Defendants filed a Motion to Dismiss the second amended Complaint on September 3, 2021.

On January 21, 2022, the Court issued an Order denying Defendants' Motion to Dismiss.

Those who purchased shares of Exela Technologies, Inc. (NASDAQ: XELA) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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