Case: Jumia Technologies, A.G.
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The U.S. District Court for the Southern District of New York and the New York Supreme Court for New York County have preliminarily approved proposed Settlements of claims against Jumia Technologies AG (“Jumia”), several of Jumia’s management and supervisory board members, its underwriters, and its auditor (“Federal and State Defendants”). The proposed Settlements resolve class action lawsuits alleging that Federal and State Defendants made false and misleading statements concerning certain metrics reported by Jumia, including gross merchandise value, active consumers, and active sellers in connection with Jumia’s April 12, 2019 IPO. Defendants deny the allegations. 

If purchased or acquired Jumia ADSs between April 12, 2019, through and including December 9, 2019, and you may be a member of one of the Settlement Classes.  

The Settlements provide that, in exchange for the dismissal and release of claims against Federal and State Defendants, a fund consisting of $5,000,000.00 in total for both Settlements ($2,000,000.00 allocated for the Federal Action and $3,000,000.00 allocated for the State Action), less attorneys’ fees and expenses, will be divided among Federal Authorized Claimants and State Authorized Claimants who timely submit valid Proof of Claim and Release Forms (“Claim Form”). 

For a full description of the Settlements and your rights and to submit a claim, please view the Stipulation of Settlement for each Action and obtain a copy of the Notice Of (I) Pendency Of Class Actions And Proposed Settlement Of Federal Action and State Action; (II) Motions For Awards Of Attorneys’ Fees And Litigation Expenses; and (III) Settlement Hearings (“Long Notice”) and Claim Form by visiting the website: www.strategicclaims.net. You may request copies of the Long Notice and Claim Form from the Claims Administrator by: (1) mail: Jumia Technologies AG Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St, Ste. 205, Media, PA 19063; (2) toll-free: (866) 274-4004; (3) fax: (610) 565-7985; or (4) email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

To qualify for payment, you must submit a Claim Form, available at www.strategicclaims.net. CLAIM FORMS ARE DUE BY FEBRUARY 19, 2021 TO JUMIA TECHNOLOGIES AG SECURITIES LITIGATION, C/O STRATEGIC CLAIMS SERVICES, P.O. BOX 230, 600 N. JACKSON ST, STE 205, MEDIA, PA 19063, or submitted electronically atwww.strategicclaims.net NO LATER THAN FEBRUARY 24, 2021. Subject to the Courts’ approval, the Claims Administrator will continue to accept as timely submitted Proof of Claim and Release Forms received by April 26, 2021. If you do not want to be legally bound by the Settlements, you must exclude yourself by February 24, 2021. If you exclude yourself, you cannot get money from these Settlements. 

If you stay in the Settlements, you may object to them by February 24, 2021. The Long Notice explains how to exclude yourself or to object. Hearings are scheduled in the Federal Action on March 17, 2021 at 2:00 p.m. at 500 Pearl Street, Courtroom 11D, New York, NY 10007, and in the State Action on March 18, 2021 at 2:30 p.m. at 60 Centre Street, Room 647, New York, NY 10007, to consider whether to certify the Settlement Classes for purposes of the Settlements only and to approve the Settlements, the Plan of Allocation, and a request by Plaintiffs’ Counsel for up to one-third of the Settlement Funds allocated to each Action for their attorneys’ fees, plus up to $200,000.00 in expenses, and Awards to Plaintiffs of no more than $15,000.00 in total. You may, but do not have to, attend the hearing(s) and ask to be heard by the Courts. The Courts may change the date of the hearings and reserve the right to hold the hearings telephonically or by other virtual means.


- Amended Complaint
- Notice and Claim Form

Claim Website:
https://www.strategicclaims.net/jumia/