Press release
Lawsuit filed for Investors in shares of Hebron Technology Co., Ltd. (NASDAQ: HEBT)
A lawsuit was filed on behalf of investors in Hebron Technology Co., Ltd. (NASDAQ: HEBT) shares.
Investors who purchased shares of Hebron Technology Co., Ltd. (NASDAQ: HEBT) have certain options and for certain investors are short and strict deadlines running. Deadline: August 10, 2020. NASDAQ: HEBT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
China based Hebron Technology Co., Ltd., through its subsidiaries, researches, develops, manufactures, and installs valves, pumps, pipe fittings, and other products in the People's Republic of China.
On June 3, 2020, Grizzly Research presented a report alleging that Hebron Technology Co., Ltd. is an "insider enrichment scheme without economic basis," citing questionable transactions including an undisclosed related party transaction for nearly $26 million.
Shares of Hebron Technology Co., Ltd. (NASDAQ: HEBT) declined from $23.40 per share on June 1, 2020 to as low as $10.95 per share on June 4, 2020.
According to the complaint the plaintiff alleges on behalf of purchasers of Hebron Technology Co., Ltd. (NASDAQ: HEBT) common shares between April 24, 2020 and June 3, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 24, 2020 and June 3, 2020 the Defendants failed to disclose to investors that many of Hebron’s acquisitions, including Beijing Hengpu and Nami Holding (Cayman) Co., Ltd., involved undisclosed related parties, that the Company’s disclosure controls regarding related party transactions was ineffective, and 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.
Those who purchased shares of Hebron Technology Co., Ltd. (NASDAQ: HEBT) have certain options and should contact the Shareholders Foundation.
Media Contact:
Christopher Clausen
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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