Trending...
- 300 Episodes. One Mission: Brother Marcus Ignites a Global Movement of Inspiration
- From Speech Therapy to 300+ Episodes: Brother Marcus Turns His Voice Into a Movement Launching a 24/7 Inspiration Radio Network on Day 100 of the Year
- Mensa Brings National Board Game Competition to Northern Virginia April 16-19
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Ebang International Holdings, Inc. ("Ebang" or the "Company") (NASDAQ: EBON) investors concerning the Company's possible violations of federal securities laws.
On April 6, 2021, analyst Hindenburg Research published a report alleging the Chinese cryptocurrency company is directing proceeds from its IPO last year into a "series of opaque deals with insiders and questionable counterparties." According to the report, Ebang raised $21 million in November 2020, claiming the proceeds would go "primarily for development," and that allegedly $21 million was directed to repay related-party loans to a relative of the company's Chairman/CEO Dong Hu. The report also noted that Ebang's earlier efforts to go public on the Hong Kong Stock Exchange failed due to widespread media coverage of its relationship with Yindou, a massive Chinese peer-to-peer online lending scheme that defrauded 20,000 retail investors in 2018, with $655 million "vanish(ing) into thin air".
More on The PennZone
On this news, Ebang's share price fell as much as 16% during intraday trading on April 6, 2021.
If you purchased Ebang securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
On April 6, 2021, analyst Hindenburg Research published a report alleging the Chinese cryptocurrency company is directing proceeds from its IPO last year into a "series of opaque deals with insiders and questionable counterparties." According to the report, Ebang raised $21 million in November 2020, claiming the proceeds would go "primarily for development," and that allegedly $21 million was directed to repay related-party loans to a relative of the company's Chairman/CEO Dong Hu. The report also noted that Ebang's earlier efforts to go public on the Hong Kong Stock Exchange failed due to widespread media coverage of its relationship with Yindou, a massive Chinese peer-to-peer online lending scheme that defrauded 20,000 retail investors in 2018, with $655 million "vanish(ing) into thin air".
More on The PennZone
- New Bethany Hosted "Food is Medicine" Roundtable with Community Leaders on April 1
- Charging Into the $30 Billion Heart Failure Market with Late-Stage Momentum, Breakthrough Data, & Strong Financial Backing: Cardiol Therapeutics $CRDL
- Eastern Adjustment Group, LLP Provides Property Loss Advocacy and Claim Support
- All American Home Renovators: Transforming Bathrooms into Masterpieces, One Home at a Time
- Bold Beauty Project Celebrates Anniversary with Collaborative Exhibition at FIU's Miami Beach Urban Studios
On this news, Ebang's share price fell as much as 16% during intraday trading on April 6, 2021.
If you purchased Ebang securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Filed Under: Business
0 Comments
Latest on The PennZone
- Breakthrough T1D 34th Annual Promise Gala to Raise $1.8 Million in Pittsburgh for T1D Research
- Captain Notepad Expands Free Custom Design Services Across Full Product Line
- Sycor Introduces Spring Release 2026 of Sycor.Rental with AI-Driven Innovations and Enhanced Service Processes
- YOKE Expands NIL Club Into Athlete-Led Commerce With Athlete Merch Launch
- Floor Kings Announces Official Launch of Premier Epoxy Flooring Services Across Arizona
- UK Buyers Purchase Luxury Home in Keene's Pointe, Windermere (Orlando, Florida)
- Instant IP Launches Rapid Takedown Service to Combat IP Theft, Deepfakes, and Copycat Websites
- From Speech Therapy to 300+ Episodes: Brother Marcus Turns His Voice Into a Movement Launching a 24/7 Inspiration Radio Network on Day 100 of the Year
- Su Che Publishing Announces New Children's Book Celebrating Vaisakhi Festival
- Best Companies Group Launches Free Best Places to Work in Chicago Program
- Permian Museum Adds Photos of Fossils Discovered on a Meteorite
- This Saturday: Open House for Manalapan's Newest Single Family Home Community
- Radarsign™ Awarded Sourcewell Contract Expanding Access to Traffic Safety Solutions
- MainConcept and NETINT Bring VPU Acceleration to Easy Video API
- Dr. Roxanne Contee Continues to Shine as a Powerhouse in Philadelphia Fashion, Media, and Community
- Larry R. Wasion's Jump Gate 2: Teleporter Expands the Time Travel Universe with High-Stakes Action and Ethical Dilemmas
- Bruce A. Rosenblat Releases A Pocket Full of Change, a Sharp, Thought-Provoking Book on Growth, Perspective, and Personal Change
- Marcus Boyd Announces Upcoming Children's Book The Royal World of Autism and Expands His Global Advocacy for Autism Awareness
- Former Philly Athletes Support Special Needs, Local Woman at Foundation Golf Classic
- Phuket Bike Week Rebrands as Hard Rock Cafe Phuket Bike Week Under Landmark 5-Year Partnership