The PennZone

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Humbl LLC ("Humbl" or the "Company") (OTC: HMBL) common stock and/or the unregistered Humbl ETX securities between November 21, 2020 and May 19, 2022, inclusive (the "Class Period"). Humbl investors have until July 18, 2022 to file a lead plaintiff motion.

Investors suffering losses on their Humbl investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On May 20, 2021, Hindenburg Research published a research report which alleged, among other things, that basic features of Humbl's Pay App were not functioning, and that there was no way to send, receive, and request money between users. Furthermore, the report also stated that many merchants using the Humbl marketplace were not actually using Humbl.

More on The PennZone

• Master Of Science, Juggernaut Of The Screen: Landon Brittain Emerges As Hollywood's Most Unlikely Leading Man
• Black Dog Venture Partners and VC Fast Pitch to Host "San Francisco Investors and Innovators" Networking Event
• Four-Time Olympian Joetta Clark Diggs to Compete at World Masters Athletics Championships in Daegu
• New Book, The KI of Marketing, Helps Small Businesses Grow Without Trying to Outspend Bigger Competitors
• The Alistair Apartments Reaches 95% Occupancy in Downtown Lancaster, PA

On this news, Humbl's stock fell $0.22, or 22.4%, to close at $0.76 on May 20, 2022, thereby injuring investors.

Then, on February 14, 2022, Humbl announced that it was suspending its Exchange Traded Index ("ETX") subscription program.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the HUMBL Pay App did not have even the basic functionality that it promised investors; and (2) that several of its hyped international business partnerships had a very low chance of contributing material revenues to the Company's bottom line; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you purchased Humbl 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.

More on The PennZone

• Food Journal Magazine Focuses Its Los Angeles Dining Coverage Across Three Editorial Verticals
• Where Do Missouri Plane Crashes Really Happen? Not Where You'd Think
• LCC Asia Pacific Sponsors CubeSatPlus 2026 at UNSW Sydney
• Kellyn Endorses National Push to Expand Food is Medicine
• LATO AI Automates Customer Communication to Help CSide Sports Academy and BAT 24 Nation Grow

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

---

Show All News | Disclaimer | Report Violation