Investigation for Investors in NASDAQ: IDEX shares announced over possible Violations of Securities Laws by Ideanomics, Inc.

An investigation was announced over potential securities laws violations by Ideanomics, Inc. in connection with certain financial statements.

Investors who purchased shares of Ideanomics, Inc. (NASDAQ: IDEX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Ideanomics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based Ideanomics, Inc. operates as a financial technology and asset digitization services company. Ideanomics, Inc. reported that its annual Total Revenue declined from $377.74 million in 2018 to $44.56 million in 2019, and that its Net Loss increased from $27.42 million in 2018 to $97.68 million in 2019.

On June 25, 2020, Hindenburg Research issued a series of tweets stating that Ideanomics “is an egregious & obvious fraud.” Hindenburg claimed that it found evidence that Ideanomics “doctored photos in its PR to suggest it owns/operates” a facility. Hindenburg further stated that it had an investigator who visited Ideanomics’ “supposed MEG sales center,” and that the “facility is actually operated by almost 100 sales groups,” that had never heard of Ideanomics. Additionally, Hindenburg claimed that its investigator called five of Ideanomics’ purported electric vehicle customers, and that none were aware of Ideanomics, nor could they confirm doing business with Ideanomics.

Shares of Ideanomics, Inc. (NASDAQ: IDEX) declined from $3.98 per share on June 22, 2020 to as low as $1.20 per share on June 26, 2020.

Those who purchased shares of Ideanomics, Inc. (NASDAQ: IDEX) 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.

This release was published on openPR.