Trending...
- Joseph Nybyk (AKA Joseph Neibich) Guests On Octopus TV
- Lansdowne Photographer Steven Weisz Selected for Philadelphia City Hall Exhibition
- Shedrack Anderson Releases New Album
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
- New Wisconsin Report Shows Most Plane Crashes Happen Outside Major Hubs
- Thou Shalt not Commit Adultery Lifetime Movie Discussion
- Book Florida Keys Accommodations Early with KeysCaribbean and Save 15 Percent
- Color Card Administrator Highlights Growing Enterprise Demand for Workflow Orchestration in Enterprise Business Card Governance
- Tennessee Laws Lead with Psychotropic Drug Testing in Mass Shooting Cases and Comprehensive Reporting: CCHR Urges Nationwide Adoption
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
- Burkentine Builders Breaks Ground For Two New Communities
- VIV Welcomes Residents to St. Petersburg's EDGE District
- Evocative Joins the Independent Data Centre Network (IDCN) as Primary USA Operator
- Philadelphia Scientist Roohid Parast Advances IBD Research at Johnson & Johnson
- Medical Experts Highlight the Importance of Second Opinions in Death Investigations
- Joseph Nybyk aka Neibich of Gilbert, Arizona
- Omnitronics Unveils 100% Software omniGateDMR and omniGateP25 RoIP Gateways
- KRE PRIME Launches Adaptive Convertible Jumpsuit
- USA Med Bed Helping Home Care Patients with Refurbished Hill Rom Hospital Beds
- Sobreseimiento de Nicolás dos Santos y Jorge Méndez expone demandas millonarias a Paraguay y boicot a la Hidrovía
- CAPHRA warns Southeast Asia not to repeat Australia's nicotine policy failure
- Milo3D.ai Launches Free AI 3D Model Generator That Turns Text and Images Into Game-Ready 3D Assets in Seconds
- UK Financial Ltd Executes 100% Success Rate on All ERC-3643 Transfers to Coin Holders of MayaCat Regulated Security Token and Maya Preferred PRA
- Blank Space: The Unofficial Taylor Swift Tribute Brings Eras Tour Magic To Cities Across America
- Love Must Be the Guide: Live Good Shares a Message of Humanity, Compassion and Hope
- D.R. Crotzer Announces A New Science Fiction Book Series Exploring Life Energy, Dreams, and the Mystery of Existence
- Vinnie Rocco Opens AgentiX Minds To Help Business Owners & Execs Learn AI Agents
- Color Card Administrator Highlights Growing Enterprise Demand for Operational Infrastructure in Business Card Identity Governance
- American Properties Celebrates Grand Opening and Ribbon Cutting Ceremony at Heritage at South
- MoMojo Records signs Arlen Roth; "Blues Grass" slated for August 7, 2026 release