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Lawsuit filed for Investors who SOLD shares of E-House (China) Enterprise Holdings Limited (NYSE: EJ)

05-09-2020 04:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in E-House (China) Enterprise Holdings Limited (NYSE: EJ).

A lawsuit was filed on behalf of investors in E-House (China) Enterprise Holdings Limited (NYSE: EJ).

An investor, who sold shares of E-House (China) Enterprise Holdings Limited (NYSE: EJ), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by E-House (China) Enterprise Holdings Limited.

Investors who sold a significant amount of shares of E-House (China) Enterprise Holdings Limited (NYSE: EJ) between April 15, 2016, until August 31, 2016, have certain options and for certain investors are short and strict deadlines running. Deadline: June 9, 2020. E-House (China) Enterprise Holdings Limited (NYSE: EJ) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

In June 2015, E-House (China) Enterprise Holdings Limited announced that it had received a buyout offer from its CEO and another Director. Shortly thereafter, SINA Corporation joined them in forming a "Buyer Group."
On April 15, 2016, E-House (China) Enterprise Holdings Limited executed a merger agreement with the Buyer Group, where each ADS would be bought for $6.85 per ADS (the "Merger"). ADS holder approval, however, would still be required before the Merger could close.
The Company published a preliminary proxy seeking ADS holder approval for the Merger on April 25, 2016.

The plaintiff said that in an attempt to persuade public ADS holders to accept the deal, the preliminary proxy contained numerous false and misleading statements and omissions. More specifically, the plaintiff claims that the Merger was not fair and not in the best interest of those investors not affiliated with the Buyer Group, that there were plans for post-Merger transactions, and that the projections in the proxies were not based on the best available information.

The merger was approved based on Defendants' false information on August 5, 2016, and closed on August 12, 2016.

Those who purchased shares of E-House (China) Enterprise Holdings Limited (NYSE: EJ) ) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

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.

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