Press release
Investigation announced for Investors in shares of Freedom Holding Corp. (NASDAQ: FRHC) over potential Wrongdoing
An investigation on behalf of investors in Freedom Holding Corp. (NASDAQ: FRHC) shares over potential wrongdoing.
Investors who purchased shares of Freedom Holding Corp. (NASDAQ: FRHC) 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 Freedom Holding Corp. (directors breached their fiduciary duties and caused damage to the company and its shareholders.
Kazakhstan based Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. Freedom Holding Corp. reported that its Total Revenue rose from $564.66 million for the 12 months period that ended on March 31, 2022, to $795.69 million for the 12 months period that ended on March 31, 2023, and that its Net Income over those respective time periods declined from $217.93 million to $205.14 million.
On August 15, 2023, a report was issued by Hindenburg Research on Freedom Holding Corp. The report highlights "red flags" at Freedom Holding Corp. "including evidence that Freedom (i) brazenly skirts sanctions (ii) shows hallmark signs of fake revenue (iii) commingles customer funds then gambles assets in highly levered, illiquid, risky market bets (iv) and displays signs of market manipulation in both its investments and its publicly traded shares."
Shares of Freedom Holding Corp. (NASDAQ: FRHC) declined from $83.81 per share on August 04, 2023, to as low as $66.50 per share on August 16, 2023.
Those who purchased shares of Freedom Holding Corp. (NASDAQ: FRHC) 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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