Trending...
- Sara Abbas Receives "Eniochos" Charioteer Award at 2026 Who is Who International Awards
- Detained at 95: South Korea's Prosecution of a Religious Leader Draws International Alarm
- UK Financial Ltd. Opens Test-Phase Maya 3 Liquidity Pool on Uniswap with DEX Screener Visibility for Market-Smoothing Ahead of CATEX Exchange Launch
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
- Heavy Duty Journal Surpasses 1000 Technical Articles for Diesel Technicians and Fleet Managers
- Brett Furman Launches Ranks Grow
- Philadelphia's Own Reverend Jamie Knight Returns with "Award-Winning Love
- Kolbus Introduces the Next Step in Casemaking Efficiency
- Florida Law Advisers, P.A. Named Best Divorce Firm of 2026 by Expert Law Attorneys
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
- World Cup Crowds Are a Stress Test for America's Restrooms
- Postmortem Pathology Expands Access to Private Autopsy Services in Las Vegas
- How Sacramento Families Are Using Private Autopsies to Protect Inheritances, Resolve Insurance Claims, and Find Closure
- Los Angeles' Best Food: Food Journal Magazine Examines the Trends Shaping the City's Dining Scene
- Landmark Construction Expands Glass, Glazing, and Commercial Remodeling Services Across Los Angeles County and Surrounding Areas
- Imagen Golf Announces Strategic Partnership with The Back Nine of Yardley to Deliver World-Class Indoor Golf Instruction
- Jazzin' On Ridge Returns for Its 6th Annual Celebration of Music, Culture, and Community
- ENTOUCH Named Top 100 Inspiring Workplaces in North America for Third Consecutive Year
- Rebecca L. Francis Receives Pennsylvania's Most Influential Leaders Award
- Pulse Wave is where moments become movements
- Michigan's Plane Crash Data Points Away from Big Airports
- 2iG Solutions Launches MGA Insight, Bringing AI-Powered Business Intelligence to Managing General Agents
- A Better Way to Find a Real Estate Agent Is Coming Soon
- Talentica Software Earns a Place Among India's Top 100 Great Mid-size Workplaces 2026
- 4-Week Search for 2 True "Philly Girls" Starts July 8th 2026
- Socialhose Launches TikTok Investigator, a Platform for Investigating TikTok Live
- David Pedrol named Managing Director in Indonesia
- AutomationIQ Launches to Bring Enterprise-Grade AI Automation to Local and Mid-Market Businesses
- Texas Hospitals & Their Patients Describe Two Very Different Healthcare Systems, New Social Knowing
- DEPIN Studios Sees Surge in Demand After AI Gaming Launch