SAN FRANCISCO, Feb.15, 2021 (GLOBE NEWSWIRE) – Hagens Berman calls on Triterras, Inc. (NASDAQ: TRIT) Investors with significant losses can file their losses now. A securities fraud class lawsuit has been filed and certain investors may have valuable claims.
School lesson: August 20, 2020 – December 16, 2020
Deadline of the main plaintiff: 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 Sritivas Koneru, CEO of Triterras.
In particular, according to the complaint, defendants made misleading statements about it or hid (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 started learning the truth on December 17, 2020 when Triterras announced that Rhodium was seeking a moratorium to protect itself from creditors while it planned to restructure the debt and continue doing business. This news caused Triterras shares to fall.
Last on January 14, 2021, Phase 2 partner published a report entitled “Is Triterras (TRIT) the Wirecard of Blockchain?” Phase 2 highlighted concerns about (1) undisclosed related party transactions and (2) certain accounting issues that are considered “red flags” in Phase 2. In response, the price of Triterras shares fell again.
“We’re focusing on investor losses and proving that Triterras deliberately misled them about Rhodium’s financial position,” 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.
Whistleblower: Individuals with non-public information about Triterras should consider their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844-916-0895 or send an email to [email protected]
About Hagens Berman
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Reed Kathrein, 844-916-0895