Trending...
- Mark Schork Selected As 'Board Observer' By Philadelphia Bar Foundation
- Steve Everett Jr. Named President of L.T. Hampel Corporation
- Long Long Tales: Bilingual Cartoon Series on Youtube Celebrating Chinese New Year
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its 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, the Company's share price fell $0.82, or approximately 13%, to close at $5.53 per share on April 6, 2021, thereby injuring investors.
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
- Boston Industrial Solutions' Natron® 512N Series UV LED Ink Earns CPSIA Certification
- Power Business Solutions Announces Joint Venture with EIG Global Trust to Deliver Data Center Financial Solutions
- Scoop Social Co. Partners with Fairmont Hotels & Resorts to Elevate Summer Guest Experiences with Italian Inspired Gelato & Beverage Carts
- Buildout Launches Native Email Marketing Feature, Expanding Its End-to-End CRE Platform
- New Saxophone Prize Honors Astronaut Ronald E. McNair, First To Play Sax In Space
On this news, the Company's share price fell $0.82, or approximately 13%, to close at $5.53 per share on April 6, 2021, thereby injuring investors.
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
- Best Personal Injury Law Firms 2025 - ELA Awards
- Baruch Arcade Launches AI-Powered Gaming Platform on Solana, do I smell an airdrop?
- Expert Law Attorneys 2025 Best Attorneys
- Best Family Law Attorneys Of 2025 - ELA Awards
- Best Criminal Defense Attorneys Of 2025 - ELA Awards
- Americans Need $1.26 Million to Retire But Have Just $38K Saved — So They're Building Income Instead
- Does EMDR Really Work? New Article Explores How Trauma Gets Stuck in the Brain and How Healing Begins
- New Medium Article Explores Why Emotional Conversations Fail and What Most People Don't Understand About Connection
- $80 Million Revenue Backlog for AI Cybersecurity Company Building the Future of Integrated Cybersecurity and Public Safety: $CYCU
- The Brave and the Rescued Honors LA Fire Department First Responders
- Slick Cash Loan shares credit score tips for borrowers using bad credit loans
- Crossroads4Hope Welcomes New Trustees to Board of Directors as Organization Enters 25th Year of Caring
- PromptBuilder.cc Launches AI Prompt Generator Optimized For ChatGPT, Gemini, Grok & Claude
- UK Financial Ltd Advances Compliance Strategy With January 30th CATEX Exchange Listing Of Maya Preferred PRA Preferred Class Regulated Security Token
- NOW OPEN - New Single Family Home Community in Manalapan
- Kintetsu And Oversee Announce New Partnership
- Save 10 Percent Off KeysCaribbean's Newly Added Luxury Vacation Home in Marathon
- Why 'Instant-Liquidity' Gaming is Dominating the Nordic Tech Demographic
- STATEMENT: Shincheonji on Religious Freedom Controversy
- SheRising: Friends in Solidarity Hosts Webinar on Women in South Sudan