Trending...
- Sylvester Anthony III Introduces His Artist Journey with Debut Single "Cherish"
- Together We Thrive: Kingdom Life Health & Career Fair Unites Faith, Wellness and Opportunity
- Heritage at Manalapan Announces New Incentive: Included Finished Basement on Select Homesites
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
- LINC to Host CEO Breakfast Forum on July 22
- The Explorer Shaped Guitar Still a Symbol of Heavy Music with New Releases
- Allstream Energy Partners Expands AI-Optimized Website Development Division to Meet Growing Demand in GEO / AEO Services
- Nola Blue announces 'Jumpin' Rockin Rhythm,' the autobiography of Duke Robillard
- America's Workforce Solution Named an OpenAI SMB Channel Partner, Bringing Enterprise-Grade AI to Main Street
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
- Rebecca Francis Team Ranks Among Top 1.5% of Teams and Agents Nationwide
- Ascent Solar Technologies (N A S D A Q: ASTI): Positioned at the Intersection of the New Space Economy, Defense Innovation and Next-Generation Energy
- Triple-Digit Growth, Stock Market Upgrade plus a Rapidly Expanding Specialty Healthcare Platform: Cardiff Lexington Corporation (Stock Symbol: CDIX)
- Morrisville & Cary Education Centers Honored with National Award
- AI-Powered Neuropsychiatry, FDA Regulatory Momentum, Commercial Ketamine Launch Position NRx Pharmaceuticals for Potential Breakout Growth in 2026
- Henri-Lloyd Launches Sail Free to Break Down Barriers to Sailing
- Genuine Hospitality, LLC Selected to Operate Hilton Garden Inn Jacksonville JTB/Deerwood Park
- Destination Niagara Launches Game Changing Digital Magazine Redefining How Visitors Experience Niagara Falls
- Val Market is the New Frontier of the Online Marketplace
- San Diego's newest marketing firm is boring on purpose — it's working
- Arizona Christian Homeschools Launches Statewide Directory
- LKPFM Corporation Canada the importance
- Sexually Abused in a Psychiatric Hospital or Psychiatrist's or Psychologist's Office? CCHR Urges Survivors to Reach Out to It
- Ten Ten Ten Announces Free Value-Based Care Playbook for Independent Primary Care Practices
- Senco Home Services Expands Residential Construction Services
- Ricci's Painting & Contracting Expands Home Transformation Services
- United Way and Community Partners Launch Relief Fund to Support Victims of the Six-Alarm Fire in Allentown
- Sylvester Anthony III Introduces His Artist Journey with Debut Single "Cherish"
- Boston Industrial Solutions Introduces High-Performance Primer for Bonding Liquid Silicone to Epoxy
- Together We Thrive: Kingdom Life Health & Career Fair Unites Faith, Wellness and Opportunity