Did You Get rid of Money on Your Ebang Expenditure? Speak to Johnson Fistel Relating to Investigation
2 min readSAN DIEGO, April 6, 2021 /PRNewswire/ — Shareholder legal rights regulation agency Johnson Fistel, LLP is investigating likely violations of the federal securities rules by Ebang International Holdings Inc. (“Ebang” or the “Enterprise”) (NASDAQ: EBON).
On or about June 26, 2020, Ebang marketed about 19.3 million shares of inventory in its first general public inventory supplying (the “IPO”) at $5.23 a share, raising nearly $101 million in new cash.
On April 6, 2021, Hindenburg Exploration issued a report about Ebang whereby Hindenburg Study detailed a collection of disturbing crimson flags about Ebang. Especially, the report said, “While the company represented that it would use the the vast majority of its many capital proceeds to acquire its small business operations, our research discovered it alternatively directed a great deal of the cash out of the corporation by a sequence of opaque specials with insiders and questionable counterparties.”
Pursuing this information, the selling price of Ebang widespread shares fell 12.91% on April 6, 2021.
Specially, Johnson Fistel’s investigation seeks to ascertain irrespective of whether the Firm’s filings with the U.S. Securities and Trade Commission in relationship with its June 2020 IPO and subsequent investor communications contained untrue statements of substance details or omitted to state other specifics vital to make the statements produced therein not misleading concerning the Company’s small business, and functions.
If you have data that could support in this investigation, together with past personnel and other folks, or if you are an Ebang shareholder and are fascinated in understanding extra about the investigation, remember to get hold of Jim Baker ([email protected]) by email or telephone at 619-814-4471. If emailing, remember to include a cellular phone amount.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally identified shareholder legal rights law organization with workplaces in California, New York and Georgia. The firm represents individual and institutional buyers in shareholder derivative and securities class motion lawsuits. For additional details about the firm and its attorneys, you should pay a visit to http://www.johnsonfistel.com. Legal professional promoting. Earlier results do not warranty foreseeable future results.
Make contact with:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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