{"id":410576,"date":"2021-01-07T11:03:42","date_gmt":"2021-01-07T16:03:42","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=410576"},"modified":"2021-01-07T11:03:42","modified_gmt":"2021-01-07T16:03:42","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-triterras-inc-f-k-a-netfin-acquisition-corp-trit-tritw-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-triterras-inc-f-k-a-netfin-acquisition-corp-trit-tritw-2\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Triterras, Inc. f\/k\/a Netfin Acquisition Corp. (TRIT) (TRITW)"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n LOS ANGELES<\/span>, Jan. 7, 2021<\/span> \/PRNewswire\/ — Glancy Prongay<\/span> & Murray LLP<\/a> (“GPM”) reminds investors of the upcoming\u00a0February 19<\/span>, 2021\u00a0<\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Triterras, Inc. (“Triterras” or the “Company”) f\/k\/a Netfin Acquisition Corp. (“Netfin”) (NASDAQ: TRIT<\/a><\/u>, TRITW<\/a><\/u>) securities between August 20, 2020<\/span> and December 16, 2020<\/span><\/b>, inclusive (the “Class Period”). <\/p>\n

\n

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\n \"(PRNewsfoto\/Glancy
\n <\/a>\n <\/p>\n<\/p><\/div>\n

If you suffered a loss on your Triterras investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/triterras-inc\/<\/a>.<\/u> You can also contact Charles H. Linehan<\/span>, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n

Triterras is a fintech company focused on trade and trade finance. It operates Kratos, a commodity trading and trade finance platform that connects commodity traders to trade and source capital from lenders directly online. Triterras formed via merger of Netfin and Triterras Fintech Pte. Ltd., which closed on November 11, 2020<\/span>. <\/p>\n

Rhodium Resources Pte. Ltd. (“Rhodium”) is a commodity trading business controlled by Srinivas Koneru<\/span>, the Company’s Chief Executive Officer (“CEO”). Rhodium enabled the launch of the Kratos platform, and substantially all of the Company’s users were referred to it by Rhodium. <\/p>\n

On December 17, 2020<\/span>, Triterras stated that Rhodium 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. <\/p>\n

On this news, the Company’s share price fell $4.11<\/span>, or 31%, to close at $9.09<\/span> per share on December 17, 2020<\/span>, on unusually heavy trading volume. The Company’s warrant price fell $1.09<\/span>, or 35%, to close at $2.01<\/span> per warrant on December 17, 2020<\/span>, on unusually heavy trading volume.<\/p>\n

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the extent to which Company’s revenue growth relied on Triterras’ relationship with Rhodium to refer users to the Kratos platform; (2) that Rhodium faced significant financial liabilities that jeopardized its ability to continue as a going concern; (3) that, as a result, Rhodium was likely to refer fewer users to the Company’s Kratos platform; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

Follow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>\n

If you purchased or otherwise acquired Triterras securities\u00a0during the Class Period, you may move the Court no later than\u00a0February 19<\/span>, 2021\u00a0<\/b>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire<\/span>, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California<\/span> 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>.\u00a0 If you inquire by email please include your mailing address, telephone number and number of shares purchased. <\/p>\n

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. <\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/glancy-prongay–murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-triterras-inc-fka-netfin-acquisition-corp–trit-tritw-301202492.html<\/a><\/p>\n

SOURCE Glancy Prongay<\/span> & Murray LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire LOS ANGELES, Jan. 7, 2021 \/PRNewswire\/ — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming\u00a0February 19, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Triterras, Inc. (“Triterras” or the “Company”) f\/k\/a Netfin Acquisition Corp. (“Netfin”) (NASDAQ: TRIT, TRITW) securities between August 20, 2020 and December 16, 2020, inclusive (the “Class Period”). If you suffered a loss on your Triterras investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/triterras-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via … <\/p>\n

Continue reading “Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Triterras, Inc. f\/k\/a Netfin Acquisition Corp. (TRIT) (TRITW)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-410576","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGlancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Triterras, Inc. f\/k\/a Netfin Acquisition Corp. 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