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Investigation announced for Investors in shares of Zhongchao Inc. (NASDAQ: ZCMD) over potential Wrongdoing

03-19-2021 02:28 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Zhongchao Inc. (NASDAQ: ZCMD) shares over potential wrongdoing at Zhongchao Inc.

An investigation on behalf of investors in Zhongchao Inc. (NASDAQ: ZCMD) shares over potential wrongdoing at Zhongchao Inc.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at 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 concerns whether certain Zhongchao Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

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.

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 lawsuits, 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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