Press release
Deadline on June 7th coming up in Lawsuit for Investors in Ebang International Holdings Inc. (NASDAQ: EBON)
A Deadline is coming up on June 7, 2021 in the lawsuit for certain investors in Ebang International Holdings Inc. (NASDAQ: EBON).
Investors who purchased shares of Ebang International Holdings Inc. (NASDAQ: EBON) have certain options and there are strict and short deadlines running. Deadline: June 7, 2021. NASDAQ: EBON stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Ebang International Holdings Inc. (NASDAQ: EBON) common shares between June 26, 2020 and April 5, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 26, 2020 and April 5, 2021, the defendants failed to disclose to investors that the proceeds from Ebang’s public offerings had been directed to an low yield, long term bonds to an underwriter and to related parties rather than used to develop the Company’s operations, that Ebang’s sales were declining and the Company had inflated reported sales, including through the sale of defective units, that Ebang’s attempts to go public in Hong Kong had failed due to allegations of embezzling investor funds and inflated sales figures, that Ebang’s purported cryptocurrency exchange was merely the purchase of an out-of-the-box crypto exchange, 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 Ebang International Holdings Inc. (NASDAQ: EBON) 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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