Pareteum (TEUM) Stock Tumbles On Audit Problems

Pareteum TEUM Stock News

As soon as the press release was issued this morning, attorney press releases started to roll. At the time of writing this article, there are 11 press releases in the Yahoo! Finance feeds from attorneys looking for plaintiffs in class action lawsuits.

On top of the reduction in revenue, the company is going to have to deal with mounting legal expenses to combat the cases that are likely to pop up ahead. Moreover, because the company reported inaccurate information with regard to its finances, there are likely judgements down the road that it wil have to deal with.

The bottom line here is that TEUM has put itself between a rock and a hard place, and getting out of this one is going to be a very big challenge.

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