A lawsuit was filed on behalf of investors in Triterras, Inc. (NASDAQ: TRIT) shares over alleged securities laws violations.
An investor, who purchased shares of Triterras, Inc. (NASDAQ: TRIT), filed a lawsuit over alleged violations of Federal Securities Laws by Triterras, Inc, f/k/a Netfin Acquisition Corp.
Investors who purchased shares of Triterras, Inc. (NASDAQ: TRIT) have certain options and for certain investors are short and strict deadlines running. Deadline: February 19, 2021. NASDAQ: TRIT investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
Singapore based Triterras, Inc., though its subsidiaries, operates as a fintech company.
On December 17, 2020, Triterras, Inc announced that Rhodium Resources Pte. Ltd. was seeking a moratorium to shield itself from creditor actions while it planned a restructuring of its debts and continue its business as a going concern. Triterras, Inc further stated that “Rhodium was instrumental to the initial launch of the Company’s Kratos platform and the platform’s attractiveness to the commodities trading and trade financings communities” and that “substantially all of the users of the Kratos platform during the year ended February 29, 2020 were referred to the platform by Rhodium and its subsidiaries who accounted for 26.5% of the Company’s revenues.”
Shares of Triterras, Inc. (NASDAQ: TRIT) declined from $15.17 per share on December 16, 2020, to as low as $7.70 per share on December 17, 2020.
The plaintiff claims that between August 20, 2020 and December 16, 2020, the defendants made false and/or misleading statements and/or failed to disclose the extent to which the Companyâ€™s revenue growth relied on Triterrasâ€™ relationship with Rhodium Resources Pte. Ltd. (â€œRhodiumâ€) to refer users to the Kratos platform, that Rhodium faced significant financial liabilities that jeopardized its ability to continue as a going concern, that, as a result, Rhodium was likely to refer fewer users to the Companyâ€™s Kratos platform, and that, as a result of the foregoing, defendantsâ€™ positive statements about Triterrasâ€™ business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Triterras, Inc. (NASDAQ: TRIT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North
San Diego, CA 92108
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 class actions, 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.
This release was published on openPR.