NEW YORK, May 05, 2021 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Ebang International Holdings Inc. (NASDAQ: EBON) between June 26, 2020 and April 5, 2021, inclusive (the “Class Period”).
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=ebang-international-holdings-inc&id=2687 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.
If you wish to serve as lead plaintiff, you must move the Court before the JUNE 7, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that- the proceeds from Ebang’s public offerings had been directed to a low yield, long term bonds to an underwriter and to related parties rather than used to develop the Company’s operations; Ebang’s sales were declining and the Company had inflated reported sales, including through the sale of defective units; Ebang’s attempts to go public in Hong Kong had failed due to allegations of embezzling investor funds and inflated sales figures; Ebang’s purported cryptocurrency exchange was merely the purchase of an out-of-the-box crypto exchange; and as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
tel: (800) 991-3756