Trending...
- Liquidity Aggregation: US-Registered JHKXWL Integrates AI Analytics for Brazilian and Global Institutional Traders - 131
- Cyntexa Announces Updates to ChargeOn on Salesforce AppExchange
- ToneWell Launches AI Wellness Platform with 30-Second Voice-Based Performance Readiness Scan™
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
- Star Sleep & Wellness Expands to Pearland, Texas — Bringing Life-Changing Sleep Care to More Communities
- Fort Lauderdale Dentist Dr. Taskonak & IN A DAY SMILE Receive Emmy Nomination for Life-Changing Documentary "The Weight of a Smile"
- Men's Health Network Highlights Major 2025 Achievements & Launches New Donation Platform For Greater Impact
- BET and Soul Train Awards - GONE! - Introducing The World Hip Hop Awards
- Australian Aboriginal Cultural Immersions and First Nations Workshops
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
- NEW SEASON OF "The Really Real Estate" APPROVED
- UK Financial Ltd Announces Full Ecosystem To Erc-3643 "SEC-Ready" Tokens For All UK Financial Ltd Tokenized Projects
- Pushing the Wave Series Launches Premium Hardback Editions of 2017–2022 and 2023 Volumes
- ZEELOOL 2025 Black Friday and Cyber Monday Big Deals
- Americans Are Building Family Legacies That Last Generations — Not Just Paychecks That Last a Month
- Bent Danholm Lists Contemporary Lakefront Residence in Winter Garden's Avalon Cove
- Safe Health Zones: A Global Breakthrough to Protect Night-Shift Workers from Preventable Harm
- ProfileSpider Launches Powerful One-Click Profile Scraper for Recruiters and Growth Teams
- NATCO Awarded U.S. Patent for Persimonal® – Breakthrough Innovation in Preparing Persimmon Leaf Extract
- Rio Bela Cosmetics Launches Inclusive Line of Organic Skincare Products
- The 7 Visibility Problems Costing Independent Hotels Thousands Every Month
- Viola's Babygirl's, LLC Proudly Announces Teri Tobin's Soulful New Christmas EP "Home For The Holidays"
- Stoxtel Introduces High-Throughput "Matrix" Engine to Address Mexico's Crypto Trading Volatility
- Eagles LB Jihaad Campbell Brings Surprise Visit for Together We Dance Foundation
- UK Financial Ltd Sets Listing Date With Catex Exchange For The Listing Of Mayacat The World's First Ever Gold Backed ERC 3643 "SEC Ready" Token
- Cyntexa Announces Updates to ChargeOn on Salesforce AppExchange
- Althea Gibson Honored as Final Release in U.S. Mint's American Women Quarters Program
- ToneWell Launches AI Wellness Platform with 30-Second Voice-Based Performance Readiness Scan™
- Lokal Media House Achieves Yelp Platinum Partner Status
- World's First AI-Native Industrial Facility is Under Construction by Carbon AMS with rhobot.ai