(TNAV) Alert: Johnson Fistel Launches Investigation into Telenav, Inc.; Investors Encouraged to Contact Firm
TELENAV (TNAV)
Last telenav earnings: 2/6 04:02 pm
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US:NASDAQ Investor Relations:
investor.telenav.com
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Source: PR Newswire
SAN DIEGO, Feb. 12, 2020 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Telenav, Inc. (NASDAQ: TNAV) ("Telenav " or the "Company") for violations of federal securities laws. On February 11, 2020, Telenav disclosed, in an SEC filing, that it is unable to file its Quarterly Report on Form 10-Q for the period ended December 31, 2019, within the prescribed period. In the SEC filing the Company stated, "The Audit Committee of the Board of Directors concluded that the Company has a material weakness in its internal control over financial reporting as of September 30, 2019 and December 31, 2019 related to a design deficiency in the Company's review controls over unusual or non-recurring and significant transactions. Specifically, the Company's controls were not properly designed to provide reasonable assurance that it timely identifies and assesses the accounting implications of terms in unusual or non-recurring agreements. As a res
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