SAN FRANCISCO, December 23, 2020 / PRNewswire / – Hagens Berman urges Triterras, Inc. (NASDAQ: TRIT) investors with significant losses to file their losses now. A securities fraud class lawsuit has been filed and certain investors may have valuable claims.
Class time: August 20, 2020 – December 16, 2020
Lead plaintiff deadline: February 19, 2021
Contact an attorney now: [email protected]
Class action lawsuit against securities of Triterras, Inc. (TRIT):
The complaint focuses on the veracity of statements made by Triterras and senior management regarding the company’s dependence on and financial condition of Rhodium Resources, a business controlled by the Triterras CEO Srinivas Koneru.
In particular, according to the complaint, defendants made misleading statements about it or concealed (1) the extent to which Triterras’s sales growth depended on recommendations from rhodium, (2) rhodium’s poor financial situation, and (3) that rhodium was likely to be around as a result referring fewer users to the company.
Investors began to learn the truth on, according to the complaint 17th December 2020 When Triterras announced that Rhodium was seeking a moratorium to protect itself from creditors while planning to restructure the debt and continue doing business.
This news caused Triterras shares to fall.
“We are focusing on investor losses and proving that Triterras deliberately misled them about the financial condition of approved material related party Rhodium both when and after the company went public,” he said Reed Kathrein, the Hagens Berman partner who led the investigation.
If you are a Triterras investor and experience significant losses or have knowledge that may aid the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about Triterras should consider their options to help with the investigation or to use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Please call for more information Reed Kathrein at 844-916-0895 or by email [email protected].
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SOURCE Hagens Berman Sobol Shapiro LLP