Press release
Lawsuit filed for Investors who lost money with shares of EHang Holdings Limited (NASDAQ: EH)
A lawsuit was filed on behalf of investors in EHang Holdings Limited (NASDAQ: EH) shares over alleged securities laws violations.
Investors who purchased a significant amount of shares of EHang Holdings Limited (NASDAQ: EH) between January 20, 2022 and November 6, 2023, have certain options and for certain investors are short and strict deadlines running. Deadline: February 2, 2024. NASDAQ: EH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On November 7, 2023, before the market opened, Hindenburg Research released a report entitled "EHang: Hollow Order Book and Fake Sales Make This China-Based eVTOL Company Last In Line For Takeoff." The report stated, in pertinent part, that "92+% of EHang's claimed 1,300+ unit preorder book is based on 'dead' or 'abandoned' deals, failed partnerships, and newly-formed customer entities with no discernible operations."
Shares of EHang Holdings Limited (NASDAQ: EH) declined from $23.24 per share on August 10, 2023 to as low as $12.30 per share on November 7, 2023
The plaintiff claims that between January 20, 2022 and November 6, 2023, the defendants made false and/or misleading statements and/or failed to disclose that EHang Holdings Limited has continued to state that it was partnering with United Therapeutics, DHL, and Vodafone, among others, even though a former EHang Holdings Limited employee has noted that United Therapeutics, DHL, and Vodafone have abandoned their respective deals with EHang Holdings Limited and that EHang Holdings Limited omitted that other entities that had placed pre-orders for its aircraft, such as Prestige Aviation and Shenzhen Boling Holding Group, did not engage in regular business in the aviation sector and are otherwise almost certainly not in a financial position to be able to afford their orders.
Those who purchased shares of EHang Holdings Limited (NASDAQ: EH) 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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