Exela Technologies, Inc.

Period: 03/16/2018 to 03/16/2020
Lead Plaintiff Deadline: 05/22/2020

SUMMARY OF CASE:

A securities class action has been filed against Exela Technologies, Inc. (XELA) on behalf of purchasers of the securities of Exela between March 16, 2018 through March 16, 2020.  This case has been filed in the USDC – N.D.TX.

The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) 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 (2) 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.