Press release
Investigation announced for Investors in shares of Zhongchao Inc. (NASDAQ: ZCMD)
An investigation for investors in Zhongchao Inc. (NASDAQ: ZCMD) shares over potential securities laws violations by Zhongchao Inc.
Investors who purchased shares of Zhongchao Inc. (NASDAQ: ZCMD), 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 Zhongchao Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Zhongchao Inc. provides healthcare information, education, and training services in China. Zhongchao Inc. reported that its annual Total Revenue rose from $12.86 million in 2018 to $14.88 million in 2019, and that its Net Income increased from $3.019 million in 2018 $4.047 million in 2019.
In February 2020, Zhongchao Inc. announced the pricing of its initial public offering. Zhongchao Inc. sold 3 million NASDAQ: ZCMD shares at $4.00 per share.
Since then shares of Zhongchao Inc. (NASDAQ: ZCMD) declined to as low as $1.59 per share on September 4, 2020.
Those who purchased shares of Zhongchao Inc. (NASDAQ: ZCMD) 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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