Trending...
- Actress/Model Raelia Lewis Building a Powerful Name in Entertainment and Fashion
- TicTac Group acquires French EdTech company Distrisoft
- Award-Winning REALTOR® Paige Coker Joins Corcoran DeRonja Real Estate
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
- Feldman Shepherd's Ezra Wohlgelernter Honored by SeniorLAW Center for Two Decades of Service
- Century Fasteners Corp. Exhibiting at 2026 MRO Americas Show – April 21-23, 2026 – Booth #2257
- Blue Sparrow Coffee named Best Matcha in Westword's Best of Denver 2026
- Ocean County College Introduces Pathways to Simplify the Student Journey and Strengthen Career Connections
- Kiko Nation Expands to Apple App Store, Achieving Full Mobile Deployment for Livestock Digital Registry Platform
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
- FinIQ Edu Launches High-Impact Workshop Vertical to Close the Workplace Benefits Gap—Drives 82% Surge in 401(k) Participation Intent
- HousingWire launches Mortgage Rankings, bringing a data-driven benchmark to originator performance
- J&J Exterminating Reminds Residents to prepare for Termite Swarm Season
- Registered Nurse Launches Healthcare Wealth Strategy Practice for Healthcare Professionals
- Tyler G. Hicks' Encyclopedia of Wealth Building Secrets Released in a Powerful New Edition
- Just 1 in 57 Crypto Owners Globally Pay Taxes on Their Holdings, New Report Finds
- New Book Gives Technology Leaders the Blueprint to Drive Real, Lasting Impact
- IQSTEL accelerates toward profitability inflection with $317M revenue and AI-driven expansion; IQSTEL Inc. (N A S D A Q: IQST) i
- AI-Driven Breakthrough Unleashed: Bionic Intelligence Platform Goes Live to Capture Massive Biotech Opportunity: KALA BIO, Inc. (N A S D A Q: KALA)
- Surging Into Hyper-Growth Mode With Record Revenue, Raised 2026 Guidance, and Game-Changing AI Platform; Off The Hook YS (NYSE American: OTH)
- Mom Creators Coalition Launches with WaterWipes® as Official Founding Sponsor
- PandaGuarantee Launches Rent Guarantor Service in New York City
- The $112M Marketing Lesson Joe Whyte Learned: Why 'More Traffic' Is the Biggest Lie in Digital Marketing
- Daniel Kaufman Expands Kaufman & Company Real Estate Platform With New Acquisitions, AI-Driven Industrial Development and Nationwide Growth Initiative
- Bethany Nikitenko Elected Board Vice President of Philadelphia VIP
- purelyIV Launches Lab Testing Services in Metro Detroit
- On the 296th Anniversary of the Ceremony That Made His Ancestor Emperor, a Cherokee Descendant Publishes the Novel That Restores Him
- Burkentine Builders Breaks Ground on Their 100,000-Square-Foot Warehouse in Shippensburg, PA
- NRx Pharmaceuticals Could Be on the Verge of a Breakout Year as AI, FDA Catalysts, and Mental Health Demand Converge
- Pine Creek Rail Trail Named Pennsylvania's 2026 Trail of the Year