Investigation announced for Investors in Singularity Future Technology Ltd. (NASDAQ: SGLY) over potential Wrongdoing

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Singularity Future Technology Ltd.

Investors who are current long term investors in Singularity Future Technology Ltd. (NASDAQ: SGLY) 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 NASDAQ: SGLY stocks follows a lawsuit filed against Singularity Future Technology Ltd. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: SGLY stocks, concerns whether certain Singularity Future Technology Ltd. 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 the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 12, 2021 and November 17, 2022, the defendants made false and/or misleading statements and/or failed to disclose that the Company's former Chief Executive Officer ("CEO") Yang Jie's true educational background, that he had an outstanding arrest warrant in China, committed forgery, was the largest shareholder and Vice President of Finance, for a Nasdaq-listed lending company, China Commercial Credit ("CCC"), which failed after reporting massive losses, that material related party transactions with SOS Information Technology New York Inc. ("SOS") (where Jie's wife was Vice President) and Rich Trading Co. Ltd USA ("Rich Trading"), that independent director John Levy's long tenure as a director of CCC, that the Company lacked adequate internal controls and as a result had a heightened risk of scrutiny and ultimately was subject to a United States Attorney's Office for the Southern District of New York and SEC investigation and action as well as a potential delisting by NASDAQ, and that the Company's statements during the Class Period about the historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company, and were materially false and misleading, and lacked a factual basis.

Those who purchased shares of Singularity Future Technology Ltd. (NASDAQ: SGLY) 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.