Investigation announced for Long-Term Investors in Tenet Fintech Group Inc. (OTC: PKKFF)

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Tenet Fintech Group Inc.

Investors who are current long term investors in Tenet Fintech Group Inc. (OTC: PKKFF) shares, 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 for current long term investors in OTC: PKKFF stocks follows a lawsuit filed against Tenet Fintech Group Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in OTC: PKKFF stocks, concerns whether certain Tenet Fintech Group Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that between September 2, 2021 and October 13, 2021, the defendants made false and/or misleading statements and/or failed to disclose
- that Tenet Fintech did not own 51% of Asia Synergy Financial Capital Ltd. ("ASFC") through Wuxi Aorong,
- that Tenet Fintech did not disclose its actual ownership structure of ASFC, an undisclosed and potentially problematic nominee shareholder agreement,
- that Huayan did not own the Heartbeat platform,
- that the Heartbeat platform did not exist prior to the alleged acquisition,
- that Tenet Fintech faced imminent delisting from NASDAQ due to non-compliance with known regulations,
- that the "recent disclosure guidance" was in fact published on November 23, 2020, nearly a full nine months prior to Tenet Fintech's uplisting,
- that as such, Tenet Fintech knew or should have known that its 40-F submission was deficient,
- that Cubeler historically failed to make even minimum loan repayments to Tenet Fintech,
- that Tenet Fintech, instead of exercising its right on the assets, decided to purchase Cubeler,
- that in light of the foregoing, and in consideration of the fact that Cubeler is owned by several Tenet Fintech insiders, the Company's acquisition of Cubeler is not based on legitimate business interests,
- that there is no evidence Huayan ever owned the Heartbeat platform or that it transferred the asset to Huike,
- that the largest ASFC shareholder had his shares frozen due to court sanctions,
- and that the creation of ASFC itself was likely a related-party transaction.

Those who purchased shares of Tenet Fintech Group Inc. (OTC: PKKFF) 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.

This release was published on openPR.